US rig count grows

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

The number of oil rigs gained by three over the week to 412, while gas rigs declined by two to 125.

There were also nine miscellaneous rigs in operation – matching numbers from a week earlier.

The total number of US oil and gas rigs was down by 43, or around 7% compared to a year earlier.

By Aparupa Mazumder

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