Oil rig count slides by 20 to start 2016

U.S. oil rig count fell by 20 to 516 following last week's decline of just two, in the seventh decline in eight weeks in the Baker Hughes weekly survey.
The total active U.S. rig count, which includes natural gas rigs, fell 34 to 664; since last year, the total rig count has fallen by 1,086 while the oil rig count is down 905.
In the past year, the oil rig count fell 64% from 1,421, while the total rig count dropped 62% from 1,750.
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