Oil Prices Slip As U.S. Rig Count Falls

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell by 1 this week. The total number of active oil and gas rigs in the U.S. is now at 402—or 390 fewer than this time last year. The oil rig count fell by 1 this week, and the number of gas rigs stayed the same. The number of miscellaneous rigs also remained unchanged. The EIA’s estimate for oil production in the United States for the week ending March 5 rose by 900,000 bpd to 10.9 million barrels with higher oil prices and demand, enticing drillers…