Baker Hughes (BKR) on Friday reported that the number of active U.S. rigs drilling for oil ( ) declined by 16 to 206 this week. The number of oil rigs has fallen on a weekly basis since mid-March, implying further declines in domestic crude output. The total active U.S. rig count, meanwhile, also fell by 17 to 284, according to Baker Hughes. July West Texas Intermediate crude held onto earlier gains ( ), trading up $1.89, or nearly 5.1%, at $39.30 a barrel.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 05, 2020 15:26 ET (19:26 GMT)
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