US oil and gas rigs fell 13 to 1,071 the week ended May 8, S&P Global Platts Analytics said Thursday, resuming what has generally been a six-month downward trend despite domestic oil prices continuing firmly above $60/b. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The rig count drop has fluctuated up and down in recent weeks as upstream operators – many of whom have heavy early-2019 activity programs planned for the year – released a rig after finishing a program or prepared to drill new wells. Last week the rig count gained 18, landing at 1,084 after spending much of April slipping each week. The US rig count peaked in mid-November 2018 at 1,233 and has gradually decreased since then. It dropped below 1,100 in mid-February and since then has generally stayed around the high 1,100s. This week’s rig count decrease was […]