The US rig count fell to its lowest level since April last week, declining by 28 to 1,147, amid a broad slowdown in oil drilling activity, according to S&P Global Platts Analytics. The bulk of the drilling pullback was seen in the number of rigs chasing oil, which fell 28 to 908, the lowest mark seen since May, the Platts Analytics data show. The number of rigs oriented toward natural gas or oil and gas were steady at 218 and 17, respectively. The additional of a single cyclic steam rig, bringing the total to four, was balanced by the idling of the sole coalbed methane rig. Click here for full-size graphic The number of active drilling permits, an indicator of potential future drilling activity, declined sharply by 1,131 to a 12-month low of 599 […]