U.S. energy companies cut one oil rigs in the week ending March 15, bringing the total count to 833, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The natural gas rig count remained unchanged at 193 rigs for the week, compared to 189 rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is a little higher than a year ago when 800 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending March 15

Week-on-week change

YoY

Oil

800

834

833

(1)

33+

Gas

189

193

193

0

04+

Oil & Gas

989

1027

1026

(1)

37+

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