US rig count rises

The total number of rigs drilling for crude oil and natural gas in the US increased by three to 547 units last week, according to Baker Hughes.

The number of oil and gas rigs have each gained by one over the week to 408 and 130, respectively.

There were also nine miscellaneous rigs in operation – one higher than the previous week.

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

By Aparupa Mazumder

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