US Oil, Gas Drilling Activity Slows
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- Baker Hughes reports the total active rig count dropped to 543, 42 less than the same week a year earlier.
- Oil rigs decreased by one, bringing the count to 410 active units.
- U.S. drilling activity shows a deceleration, indicating reduced upstream investment momentum.
Why it matters: The dip to 543 rigs cuts U.S. drilling capacity, limiting oil output growth for domestic refiners.
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