2020 is starting off with more rig losses, according to Baker Hughes, with the US oil and gas rig count falling by 9 rigs for the week. The total oil and gas rig count is now 279 down from this time last year at a total of 796 rigs. For oil rigs, this week saw a decrease of 7 rigs, according to Baker Hughes data. The total number of active gas rigs in the United States fell by 2 according to the report, to 123. This compares to 198 a year ago. The US shed a total of 207 oil rigs throughout 2019, while production grew from 11.7 million bpd at the beginning of the year to the all-time high of 12.9 million bpd for week ending Dec 20, the last week for which there is data. Oil prices were up sharply on Friday after the US forces in […]