US rig count rises

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 563 units last week, according to Baker Hughes.

The number of oil rigs has remained unchanged over the week at 433, while gas rigs gained by one to 122.

There were also eight miscellaneous rigs in operation, unchanged from last week.

The total number of US oil and gas rigs was up by 9, or around 1.6% compared to a year earlier.

By Aparupa Mazumder

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