U.S. energy companies cut five oil rigs in the week ending May 24, bringing the total count to 797, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count rose by one rig to 186 rigs for the week, compared to 198 rigs a year earlier.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending May 24

Week-on-week change

YoY

Oil

859

802

797

(5)

(62)

Gas

198

185

186

+1

(12)

Oil & Gas

1059

987

983

(4)

(76)

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