April 30, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Though production trends continue to hold up, U.S. drillers cut back on oil-related activity by the steepest level since November, data show.

Upstream services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) recorded 613 active drilling rigs in the U.S. during the seven-day period ending April 26. That's a 1% decline from last week and a near-20% drop from the same time last year.