Foreign news on April 6, energy services company Baker Hughes (Baker Hughes Co.) said in a report on Thursday that the number of oil and natural gas rigs in the US energy company fell this week, and it fell for the second consecutive week.

The U.S. oil and gas rig count, a leading indicator of future production, fell by four to 751 in the week ended April 6, Baker Hughes data showed.

Baker Hughes released its rig data a day earlier than usual due to the Good Friday holiday on April 7.

Baker Hughes said that while the oil and gas rig count fell this week, it was still up 62 rigs, or 9%, from a year earlier.

The U.S. oil rig count fell by two to 590 this week, while the natural gas rig count fell by two to 158.

U.S. crude futures are up about 6.7% so far this year after rising about 7% in 2022. Meanwhile, U.S. natural gas futures have plunged about 53% so far this year after rising about 20% last year.

Falling natural gas prices have already led some exploration and production companies, including Chesapeake Energy Corp, Southwestern Energy Co and Comstock Resources Inc, to announce plans to Some natural gas rigs to reduce production.

U.S. crude oil production is still expected to rise from 11.9 million barrels per day in 2022 to 12.4 million barrels per day in 2023, according to a March estimate by the U.S. Energy Information Administration (EIA). It is expected to reach 12.6 million bpd in 2024. U.S. crude production hit a record high of 12.3 million bpd in 2019.

Meanwhile, U.S. natural gas production is expected to rise to 100.67 billion cubic feet per day in 2023 from 98.09 billion cubic feet per day in 2022, and to 101.69 billion cubic feet per day in 2024, the EIA said.

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