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U.S. energy firms in February cut the most oil and natural gas rigs in a month since June 2020, with the gas rig count falling to the lowest since April. The total oil and gas rig count, an early indicator of future output, fell seven to 753.
U.S. oil rigs fell seven to 600 this week, while gas rigs were unchanged at 151.
For the month, the total oil and gas rig count was down 18, falling for the third month in a row for the first time since July 2020.
The oil rig count was down nine in February, while the gas rig count also fell nine in its biggest monthly drop since April 2020.
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