US drillers cut oil and gas rigs for first time in three weeks, says Baker Hughes

Baker Hughes' weekly rig count shows U.S. energy firms cut the number of operating oil and natural gas rigs this week — the first decline in three weeks. The data point is a closely watched input for near-term supply expectations and could modestly influence short-term oil and gas price direction and sector positioning.

Analysis

Baker Hughes' weekly rig count shows U.S. energy firms cut the number of operating oil and natural gas rigs this week — the first decline in three weeks. The data point is a closely watched input for near-term supply expectations and could modestly influence short-term oil and gas price direction and sector positioning.