The the number of active oil and gas rigs fell in the United States this week according to Baker Hughes, despite record-breaking production for the week ending February 15. The total number of active oil and gas drilling rigs fell by 4 rigs, according to the report, with the number of active oil rigs falling by 4 to reach 853 and the number of gas rigs holding fast at 194. The oil and gas rig count is now 69 up from this time last year, 54 of which is in oil rigs. Oil prices were trading up earlier on Friday on lowered OPEC production and hopes that the relentless trade spat between China and the United States might drawing to a close. The strong bearish signal came from the United States on Thursday, with the Energy Information Administration showing that production reached 12 million barrels per day for the […]