US rig count increases

The total number of rigs drilling for crude oil and natural gas in the US has gained by three to reach 542 units last week, according to Baker Hughes.

The total number of oil rigs gained by two over the week to 418, while gas rigs remained unchanged at 118.

There were also six miscellaneous rigs in operation, one higher than the previous week.

The total number of US oil and gas rigs was down by 46, or about 8% lower, as compared to a year earlier.

By Aparupa Mazumder

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