Rig Count Plummets As Oil Price War Rages On

Baker Hughes reported that the number of oil and gas rigs in the US plummeted this week by 20­, falling to 722, with the total oil and gas rigs clocking in at 244 fewer than this time last year. The number of oil rigs increased for the week, by 19 rigs, according to Baker Hughes data, bringing the total to 664—a 160-rig loss year over year. The total number of active gas rigs in the United States fell by 1 according to the report, to 106. This compares to 192 a year ago.  The miscellaneous rig count stayed the same this week, for…