US rig count gains

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 581 units last week, according to Baker Hughes.

The number of oil and gas rigs remained unchanged over the week at 445 and 126, respectively.

There were also 10 miscellaneous rigs in operation – one higher than the previous week.

The total number of US oil and gas rigs was up by 44, or around 8.2% compared to a year earlier.

By Aparupa Mazumder

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