The the number of active oil and gas rigs fell for the second week in a row in the United States this week according to Baker Hughes, while actual US production was stagnate for the week. The total number of active oil and gas drilling rigs fell by 10 rigs according to the report—like last week—with the number of active oil rigs falling by 8 to reach 816 and the number of gas rigs falling by 2 to 190. The oil and gas rig count is now just 13 up from this time last year, with oil being seeing a 19-rig increase year on year, gas rigs seeing a 4-rig decrease, and miscellaneous rigs seeing a 2-rig decrease for the year. Oil prices were trading up earlier on Friday leading up to the data release despite reports on Wednesday from the Energy Information Administration that showed a build in […]