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RIYADH: US power corporations final week diminished the variety of oil and pure fuel rigs working for a second week in a row, together with the deepest oil rig lower since early June, power providers agency Baker Hughes mentioned.
The oil and fuel rig depend, an early indicator of future output, fell by six to 669 within the week ended July 21, the bottom since March 2022.
That was additionally the eleventh time within the final 12 weeks that drillers lower rigs.
US oil rigs fell by seven to 530 this week, their lowest since March 2022, whereas fuel rigs dropped by two to 131.
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