US rig count gains

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

The number of oil rigs increased by one over the week to 450 and gas rigs moved two units higher to 132.

There were also 9 miscellaneous rigs in operation – the same as the previous week.

The total number of US oil and gas rigs was up by 52, or around 9.6%, compared to a year earlier.

By Aparupa Mazumder

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