US rig count up for second straight week

The number of rigs extracting crude oil and natural gas in the US rose by four to 758 last week, Baker Hughes reported.

PHOTO: Oil fracking drill rig in the Permian Basin in West Texas, US. Getty Images

The US oil rig count rose by four units to 593 last week, while the gas rig count remained unchanged.

The total rig count in the Permian Basin in Texas - the biggest US oilfield – was up by three units to 353.

Compared to a year earlier, the total US oil and gas rig count was up by 88 rigs, or 13%.

By Debarati Bhattacharjee

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