Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week—a loss in rigs for the second week in a row, with a 10-rig decrease in the number of oil rigs. The total number of active oil and gas drilling rigs now stands at 1,075 according to the report, with the number of active oil rigs decreasing by 10 to reach 877 and the number of gas rigs increasing by 9 to reach 198. The oil and gas rig count is now 144 up from this time last year, 126 of which is in oil rigs. Crude oil prices skyrocketed on Friday after a rather abysmal November, as OPEC managed to pull it together in the final hour of production cut talks with its members and Russia. Despite the talks ending yesterday without a resolution as Russia’s Alexander Novak flew back home to discuss […]