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(Reuters) – US energy companies this week reduced the number of refineries in operation for five consecutive weeks, as most independent producers cut spending, even as major oil companies continue their exploration work.
In its weekly follow-up report, Baker Hughes Energy Services said Friday that oil rigs had stopped six excavators during the week ending Aug. 2, bringing the total number of rigs to 770, the lowest level since February 2018.
During the same week of last year, 859 oil diggers were active.
This is the longest consecutive weekly decline since March, when the number of active oil rigs in the United States has declined for six consecutive weeks.
(Reuters)
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