US oil rig count climbs

The total number of rigs drilling for crude oil and natural gas in the US increased by two to 588 units last week, according to Baker Hughes.

The total number of oil and gas rigs grew by one to 481 and 101 on the week, respectively.

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 33, or decreased by 5.3%, from a year earlier.

By Aparupa Mazumder

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