US oil rig count inches up, gas rig count drops

The number of rigs extracting crude oil and natural gas in the US rose by one to 621 last week, Baker Hughes has reported.

PHOTO: Oil field with pump jacks in Texas, US. Getty Images

The number of oil rigs rose by two units to 499 last week. On the other hand, the US natural gas rig count dropped by one unit to 119 last week. There were also three miscellaneous rigs in operation, the same as the prior week.

The total oil and gas rig count in the Permian Basin in Texas - the biggest US oil field – rose by three units to 310.

The total US oil and gas rig count was down by 150, or 19%, from a year earlier.

By Debarati Bhattacharjee

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