US rig count inches higher

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 549 units last week, according to Baker Hughes.

IMAGE: Oil barrels. Getty Images

The number of oil rigs has gained by three over the week to 417, while gas rigs fell by three to 125.

There were also seven miscellaneous rigs in operation – one more than a week earlier.

The total number of US oil and gas rigs was down by 35, or 6% compared to a year earlier.

By Aparupa Mazumder

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