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US Oil Rigs Drops to Record Low

M. Ali 21 August, 2020 8:39 pm Commodities, Market Update

Oil rigs in the United States decreased by three rigs during the week ending on 14 August, data by Baker Hughes showed on Friday.

The US oil rig count declined to a new record low at a total of 244 rigs last week.

The continuous decrease in active oil rigs in the US comes despite the recent stabilization in crude prices.

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