US rig count rises

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

The number of oil rigs moved higher by four over the week to 411, while gas rigs fell by two to 132.

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

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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