US rig count rises

The total number of rigs drilling for crude oil and natural gas in the US increased by seven to 580 units last week, according to Baker Hughes.

The number of oil rigs increased by five over the week to 445, and gas rigs gained by one to 126.

There were also nine miscellaneous rigs in operation – one higher than the previous week.

The total number of US oil and gas rigs was up by 41, or around 7.6% compared to a year earlier.

By Aparupa Mazumder

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