US rig count grows

The total number of rigs drilling for crude oil and natural gas in the US gained by two to 587 units last week, according to Baker Hughes.

The total number of oil rigs gained by two to 483, and gas rigs increased by one to 99 on the week.

There were also five miscellaneous rigs in operation, one lower than the previous week.

The total number of US oil and gas rigs was down by 26, or decreased by 4.2%, from a year earlier.

By Aparupa Mazumder

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