US rig count inches up

The total number of rigs drilling for crude oil and natural gas in the US increased by one to 593 units last week, according to Baker Hughes.

The total number of oil rigs fell by two to 486, while gas rigs gained by three to 102 on the week.

There were also five miscellaneous rigs in operation, unchanged from the previous week.

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

By Aparupa Mazumder

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