Watch five years of oil drilling collapse in seconds. The oil crash has taken its toll.
After the plunge in oil prices kicked off in late 2014, producers started shutting down rigs at an unprecedented rate. The number of active rigs is approaching the lowest level since Baker Hughes started tracking rig counts in 1940. The rig count fell by 12 to 502 in the latest week of data. The lowest rig count on record was 488, in April 1999.
February 27, 2016 at 09:02PM
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