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On Feb.
26, U.
S.
oil services company Baker Hughes reported that the number of active U.
S.
oil rigs fell by 13 to 400 in the week ended February 26, 2016, the 10th consecutive week of decline, to the lowest level since at least December 11
, 2009.
The data also showed that the total number of active oil and gas rigs in the United States fell by 12 to 502 in the week ended Feb.
26, down 765 from a year earlier
.
Oil traders noted that the number of active U.
S.
oil rigs fell by 963 in 2015, the first annual decline since 2002 and the largest
annual decline since 1988.
In the five years from 2010 to 2014, the number of active oil rigs in the United States increased by an average of 216 per year
.
The number of active U.
S.
oil rigs, which hit a high of 1,609 in October 2014, has fallen by nearly three-quarters
.
On Feb.
26, U.
S.
oil services company Baker Hughes reported that the number of active U.
S.
oil rigs fell by 13 to 400 in the week ended February 26, 2016, the 10th consecutive week of decline, to the lowest level since at least December 11
, 2009.
The data also showed that the total number of active oil and gas rigs in the United States fell by 12 to 502 in the week ended Feb.
26, down 765 from a year earlier
.
Oil traders noted that the number of active U.
S.
oil rigs fell by 963 in 2015, the first annual decline since 2002 and the largest
annual decline since 1988.
In the five years from 2010 to 2014, the number of active oil rigs in the United States increased by an average of 216 per year
.
The number of active U.
S.
oil rigs, which hit a high of 1,609 in October 2014, has fallen by nearly three-quarters
.
