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Latest Baker Hughes Report
The Baker Hughes rig count reported U.S. oil rig count increased by 7 to 854.
The oil rig count was 791 last year at this time, and the rig count during 2018 increased to nearly 900 active rigs when oil prices grew to the peak of $76. This year, with forecasts of crude oil prices being lower this year, the expectations are that the number of active oil rigs will decrease.
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