US rig count increases

The total number of rigs drilling for crude oil and natural gas in the US increased by five to 603 in the week ending 9 October, according to Baker Hughes.

The number of oil rigs rose by six to 462, while gas rigs fell by one to 132, Baker Hughes reported.

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

The total US oil and gas rig count was up by 56, or around 10%, compared with a year earlier.

By Shilpa Sharma

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