U.S. energy companies cut one oil rig in the week ending Sept. 21, bringing the total count to 866, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

 

The number of gas rigs was kept unchanged for the second consecutive week at 186 gas rigs, compared to 190 gas rigs a year earlier.

 

The U.S. rig count, an early indicator of future output, is still much higher than a year ago when 744 rigs were active as energy companies have been ramping up production in anticipation of higher prices in 2018 than previous years.

 

US oil & gas rigs

Rigs

A year ago

Previous week

Week ending Sept. 21

Week-on-week change

YoY

Oil

744

867

866

(1)

122+

Gas

190

186

186

--

(4)

Oil & Gas

935

1055

1053

(2)

118+

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