US rig count holds flat

The total number of rigs drilling for crude oil and natural gas in the US has remained unchanged at 551 units last week, according to Baker Hughes.

The number of oil rigs held steady over the week at 409, and gas rigs remained unchanged at 133.

There were also 9 miscellaneous rigs in operation, the same as a week earlier.

The total number of US oil and gas rigs was down by 41, or around 7% compared to a year earlier.

By Aparupa Mazumder

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