1355 ET - The number of rigs drilling for oil in the U.S. rose by two this week to 483, and was down by 23 from a year ago, oil services company Baker Hughes reports. Rigs directed at natural gas increased by one to 99, or six fewer that a year ago. "With crude's recent slide in April, some operators are slowing their drilling plans," Alex Hodes of StoneX says in a note. "The Dallas Federal Reserve's recent energy survey suggested breakeven for new wells were around $65 a barrel, and so the recent move below $60 a barrel most certainly will prevent some drillers from pressing onward." (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 13:55 ET (17:55 GMT)
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