Drilling activity declined for a third week as oil prices continue to retreat from eight-year highs.
Oilfield service company Baker Hughes said in its weekly rig count, which it has released since the 1940s, the US rig count fell by one to 762. That’s the first time the rig count has declined for three consecutive weeks since July 2020 as the COVID-19 pandemic was shutting in economies and business activity around the globe. Despite the…