US oil-rig count down by one

The number of active rigs drilling for oil in the US dropped by five this week to 744, according to the Baker Hughes weekly rig count. This makes the third week in a row the US oil-rig count has fallen.

There are now 935 total active rigs in the US, with 913 drilling on land and 19 offshore. Last week, that number stood at 936.

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