Here comes the Baker Hughes rig count ...

The oilfield services giant Baker Hughes will release its weekly tally of US oil and gas rigs at the top of the hour.

The oil rig count fell for a third straight period last week, by 10 to 545, the lowest since the week of June 4, 2010. The gas rig count rose by 3 to 292.

Crude oil prices hit new lows earlier on Friday, as everything continues to indicate that oil producers are pumping relentlessly. OPEC’s output hit a three-year high last month, while the International Energy Agency came out with a report today saying that the global supply glut would continue in 2016.

West Texas Intermediate crude oil futures in New York were down about 3%, and fell to as low as $35.59 per barrel, the weakest level in seven years.

We’ll have the latest rig-count data just after 1 p.m ET, so refresh this page for updates. Meanwhile, here’s the most recent oil rig chart:

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