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By Published On: November 26, 20250.5 min read

The Baker Hughes rig count data shows a notable shift in the US drilling landscape. Oil rig numbers dropped sharply by 12, bringing the total down to 407. In contrast, natural gas rigs increased by 3, reaching 130. Overall, the total rig count fell by 10 to 544.

This decline in oil rigs may suggest that lower oil prices are causing some marginal rigs to be taken offline. Forex traders should monitor this development closely, as changes in rig counts can influence commodity prices and, subsequently, currency movements linked to energy markets.

Original Source: Greg Michalowski of investinglive.com

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