Nov 15 (Reuters) - U.S. energy firms this week cut the

number of oil and natural gas rigs operating for the first time

in four weeks, energy services firm Baker Hughes ( BKR ) said in

its closely followed report on Friday.

The oil and gas rig count, an early indicator of future

output, fell by one to 584 in the week to Nov. 15, the lowest

since early September.

That puts the total rig count down 34, or 6% below this time

last year.

Baker Hughes ( BKR ) said oil rigs fell by one to 478 this week,

their lowest since the week to July 19, while gas rigs also

declined by one to 101.

The oil and gas rig count dropped about 20% in 2023 after

rising by 33% in 2022 and 67% in 2021, due to a decline in oil

and gas prices, higher labor and equipment costs from soaring

inflation and as companies focused on paying down debt and

boosting shareholder returns instead of raising output.

U.S. oil futures were down about 6% so far in 2024

after dropping by 11% in 2023, while U.S. gas futures

were up 11% in 2024 after plunging by 44% in 2023.

U.S. crude output was on track to rise from a record 12.9

million barrels per day (bpd) in 2023 to 13.2 million bpd in

2024 and 13.5 million bpd in 2025, according to the latest U.S.

Energy Information Administration (EIA) outlook this week.

The agency, however, slightly raised the 2024 oil

production forecast while trimming the 2025 outlook from last

month's report.

The EIA this week also cut its forecast for U.S.

gas output

to 103.4 billion cubic feet per day (bcfd) in 2024, down

from 103.5 bcfd expected last month.

Gas production will be down from a record high of 103.8

bcfd in 2023, the first decline since 2020, when the COVID-19

pandemic cut demand for the fuel.

Several gas

producers

reduced spending on drilling activities earlier in the year

after monthly average spot prices at the U.S. Henry Hub

benchmark in Louisiana plunged to a 32-year low in

March.