The latest weekly rig count from oil driller Baker Hughes showed the number of rigs fell by 12 this week to 813, the lowest since the week ending March 4, 2011. Combined oil and gas rigs declined by 21 to 1,048. Since hitting a peak of 1,609 last October, the number of US oil rigs in use has declined by almost 50%, and Baker Hughes said back in January past downturns in oil prices have seen rig counts fall by 40%-60%. Here's the chart of the decline in oil rigs as of this week. Read more: http://www.businessinsider.com/baker-hughes-rig-count-march-27-2015-3#ixzz3Vbh9yGSy (full story)