U.S. Oil Rigs Dip For First Time In 9 Weeks

The number of total active drilling rigs in the United States fell by 1 this week, after the 14 rig increase in the week prior, according to new data from Baker Hughes published on Friday. The total rig count slipped to 727 this week—270 rigs higher than the rig count this time in 2021. U.S. drillers have added 77 rigs since Russia invaded Ukraine. The invasion triggered financial sanctions on one of the world’s largest oil producers that have disrupted exports. Oil rigs in the United States fell this week by 2 rigs to 574, while gas…