The U.S. rig count fell as crude oil prices retreated

According to a report by Oil Price Network on September 2, according to new data released by Baker Hughes on Friday, the total number of active drilling rigs
in the United States decreased by 5 this week.

The total rig count fell to 760 this week, an increase of 263 from the same period in 2021
.

This week, the number of U.
S.
oil rigs
fell by nine to 596.
Natural gas drilling increased by four to 162.

The number of other rigs remained unchanged at 2
.

This week, the number of rigs in the Permian Basin decreased by six to 342
.
Eagle Ford's rig increased by one to 71
.
Oil and gas rigs in the Permian Basin outperformed 92 percentage points
compared to the same period last year.

U.
S.
crude oil production unexpectedly fell
in the week ended Aug.
26.
According to the EIA's latest weekly estimate, U.
S.
crude oil production fell by 3.
3 million barrels
per day for the second consecutive week.
U.
S.
crude inventories now stand at 418.
3 million barrels, 6 percent below the five-year
average.

Gasoline inventories also fell by 1.
2 million barrels in the week ended Aug.
26, though by less than the previous week
.

WTI closed at $87.
86 a barrel, up $1.
25 but down more than
$5 from a week ago.

On the day, Brent crude rose $1.
61 (+1.
74%) to close at $93.
97 a barrel, but it was also down about $5 from Friday
.