U.S. energy companies cut 20 oil rigs in the week ending April 26, bringing the total count to 805, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count decreased by one rig to 186 rigs for the week, the same number as a year earlier.

 

The U.S. rig count, an early indicator of future output, has fallen below year-ago levels when 825 rigs were active.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending April 26

Week-on-week change

YoY

Oil

825

825

805

(20)

(20)

Gas

195

187

186

(1)

(9)

Oil & Gas

1021

1012

991

(21)

(30)

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