US gas rig count increases

The number of total rigs drilling for crude oil and natural gas rose by two to 586 units last week, according to Baker Hughes.

The number of oil rigs fell by one to 477, their lowest level since December 2021. Meanwhile, the natural gas rig count rose by three to 103. There were also six miscellaneous rigs in operation, unchanged from the previous week.

The total US oil and gas rig count was down by 83 rigs, or 12% from a year earlier.

By Debarati Bhattacharjee

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