The Number of U.S. Oil Rigs Continues to Tumble
No end in sight
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U.S. oil rigs continued to get hammered this week despite still-rising levels of production.
Drillers idled 98 rigs, dropping the number to 1,358 and marking the 10th consecutive decline, Baker Hughes reported on Friday. The total U.S. rig count is down 30 percent since October, an unprecedented retreat.