US rig count increases

The total number of rigs drilling for crude oil and natural gas in the US increased by two to 548 units last week, according to Baker Hughes.

The number of oil rigs remained unchanged over the week at 414, while gas rigs gained by three to 128.

There were also six miscellaneous rigs in operation – one less than a week earlier.

The total number of US oil and gas rigs was down by 37, or 6.3% compared to a year earlier.

By Aparupa Mazumder

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