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Rig count affected by crude prices
Aug. 25, 2018

Rig count affected by crude prices

The falling crude prices have affected the U.S. energy companies following which nine oil drilling rigs have been cut this week. Baker Hughes informed in its report that after this reduction, which is the biggest since May 2016, the rig count has decreased to 860. According to Cowen & Co., US financial services firm, an increase of 18% is predicted in planned capital spending this year by E&Ps they have tracked.

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