The U.S. Oil Rig Count Slips Once Again

Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 3 to 180, after rising last week for the first time since January. The total number of active oil and gas rigs held steady for the week, with oil rigs falling by 3 and gas rigs increasing by 3. Total oil and gas rigs in the United States are now down by 650 compared to this time last year. The EIA’s estimate for oil production in the United States stayed the same for the week ending August 21—the last week for which there is data, at 10.8 million…