US rig count rises

The total number of rigs drilling for crude oil and natural gas in the US gained by two to 585 units last week, according to Baker Hughes.

The total number of oil rigs gained by one to 481, and gas rigs increased by one to 98 on the week.

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

The total number of US oil and gas rigs was down by 34, or decreased by 5.5%, from a year earlier.

By Aparupa Mazumder

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