US rig count gains

The total number of rigs drilling for crude oil and natural gas in the US increased by two to 546 units last week, according to Baker Hughes.

The number of oil rigs remained unchanged over the week at 411, while gas rigs gained by three to 125.

There were also 10 miscellaneous rigs in operation – one less than the week earlier.

The total number of US oil and gas rigs was down by 36, or around 6% compared to a year earlier.

By Aparupa Mazumder

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