U.S. gas and oil rigs dropped for the seventh straight week to the lowest since March 2011,...


U.S. gas and oil rigs dropped for the seventh straight week to the lowest since March 2011, according to Baker Hughes' (BHI) latest rig count. Oil rigs have fallen every month since September as companies scale back drilling in response to high crude supplies and declining prices; the gas count has shrunk to less than a third of its Aug. 2008 peak after a shift from dry-gas plays to more profitable liquids.

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Comments (2)
  • bigbenorr
    , contributor
    Comments (1141) | Send Message
     
    declining prices? nat gas maybe....WTI and brent are hanging in there.
    11 Jan 2013, 02:55 PM Reply Like
  • chopchop0
    , contributor
    Comments (5155) | Send Message
     
    the saudi's didn't cut output for no reason though....
    11 Jan 2013, 03:02 PM Reply Like
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