Oil rig count falls for 3rd straight week
The US oil rig count fell by 10 to 545 last week, for a third period in a row, according to oil driller Baker Hughes.
That's the lowest tally since the week of June 4, 2010.
The gas rig count rose by 3 to 292.
In the prior period, US oil producers idled 9 rigs, while the gas rig count dropped by 4.
The big oil story on Friday is the outcome of OPEC's meeting in Vienna. The group decided to keep production levels unchanged.
The group, led by Saudi Arabia, has been fighting to maintain market share amid the growth of US shale-oil producers and other competitors.
But since supply abounded, and oil prices plunged, US oil drillers have had to cut capital expenditure, layoff some workers, and take oil rigs offline.
West Texas Intermediate crude oil futures in New York fell below by about 3%, and below $40 per barrel to as low as $39.61.
Here's the latest oil rig count chart:
