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Baker Hughes said its weekly US rig count fell for a fifth consecutive week to 563 rigs, the lowest level since November 2021 ...

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US oil and gas rig counts hit their lowest since 2021 as drilling activity slows due to lower prices and market uncertainty.

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The number of total drilling rigs in the U.S. fell for the fifth straight week, down by 3 to 563 to the lowest level since November 2021, Baker Hughes reported.

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The oil and gas rig count fell by three to 563 in the week to May 30. Baker Hughes said this week's decline puts the total count down 37 rigs, or 6%, from this time last year.