US drillers cut 4 oil rigs in week ending Jan. 11: Baker Hughes

U.S. energy companies cut four oil rigs in the week ending Jan. 11, bringing the total count to 873, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

The natural gas rig count rose by four rigs to 202 rigs for the week, compared to 187 rigs a year earlier.

The U.S. rig count, an early indicator of future output, is still much higher than a year ago when 752 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.