US rig count gains

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 563 units last week, according to Baker Hughes.

The number of oil rigs gained by two over the week to 431, while gas rigs declined by one to 124.

There were also eight miscellaneous rigs in operation – the same as the previous week’s figures.

The total number of US oil and gas rigs was up by 4, or around 0.7% compared to a year earlier.

By Aparupa Mazumder

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