US rig count increases

The total number of rigs drilling for crude oil and natural gas in the US increased by seven to 588 units last week, according to Baker Hughes.

The number of oil rigs gained by seven over the week to 452, while gas rigs remained unchanged at 126.

There were also 10 miscellaneous rigs in operation, unchanged from the previous week.

The total number of US oil and gas rigs was up by 44, or around 8% compared to a year earlier.

By Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online