US rig count inches up

The total number of rigs drilling for crude oil and natural gas in the US has gained by one to 548 units last week, according to Baker Hughes.

The total number of oil rigs remained unchanged over the week to 418, while gas rigs increased by one to 121.

There were also nine miscellaneous rigs in operation – the same as the previous week.

The total number of US oil and gas rigs was down by 37, or about 6% lower, compared to a year earlier.

By Aparupa Mazumder

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