The US oil and gas rig count fell by 4 this week, according to Baker Hughes, which reported before Independence Day this week. The total number of active oil rigs in the United States fell by 5 according to the report, reaching 788. The number of active gas rigs increased by 1 to reach 174. The combined oil and gas rig count is still 963 for the week, with oil seeing a 75-rig decrease year on year and gas rigs down 13 since this time last year. The combined oil and gas rig count is down 89 year on year. Year-to-date, the oil rig count has fallen from 858 active rigs since the beginning of the year to 788, while gas rigs have fallen from 187 to 174 during that same time. Despite the rig decline year on year, US production is almost 1.2 million barrels per day higher […]