US oil rig count rises

The total number of rigs drilling for crude oil and natural gas in the US rose by seven to 589 units last week, according to Baker Hughes.

The number of oil rigs grew by five to 482, and gas rigs rose by two to 102.

There were also five miscellaneous rigs in operation, the same as the previous week.

The total number of US oil and gas rigs was down by 37, or 6% from a year earlier.

By Aparupa Mazumder

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