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April 9, 2020, 1:29 p.m. EDT

Baker Hughes reports a hefty, fourth-straight weekly drop in the U.S. oil-rig count

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By Myra P. Saefong

Baker Hughes /zigman2/quotes/205323712/composite BKR -0.79% on Thursday reported that the number of active U.S. rigs drilling for oil dropped by 58 to 504 this week. Data were released a day earlier because Friday is a holiday for the stock market. The oil-rig count declined by 62 the week before. The total active U.S. rig count, meanwhile, also declined by 62 to 602, according to Baker Hughes. Oil prices held onto modest gains ahead of the outcome of a virtual meeting of major oil producers. May West Texas Intermediate crude /zigman2/quotes/209724760/delayed CLK20 -8.67% was up 30 cents, or 1.2%, at $25.39 a barrel.

Read the full story:
Oil prices settle lower as investors weigh reports of an OPEC+ output cut deal

$ 15.12
-0.12 -0.79%
Volume: 3.35M
May 22, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$9.90 billion
Rev. per Employee
US : U.S.: Nymex
$ 10.01
-0.95 -8.67%
Volume: 0.00
April 21, 2020 2:29p

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