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U.S. oil & gas rig count falls for first time in 25 months

August 26, 202211:13 AM Reuters0 Comments

U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in 25 months, even as oil prices remain relatively high.

The oil and gas rig count, an early indicator of future output, rose three to 765 in the week to Aug. 26, energy services firm Baker Hughes Co said in its closely followed report on Friday.

For the month, the total oil and gas count was down two rigs.

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