US Oil Drillers Continue to Back Off As Prices Sink

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The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count in the US fell to 547 according to Baker Hughes, down 39 from this same time last year. The number of active oil rigs fell in the week, according to the data, to 418. Year over year, this represents a 63-rig decline. The number of gas rigs rose by 2 to 120 active rigs, which is 19 over this time last year. The miscellaneous rig count stayed the same at 9. The latest EIA data…