US rig count steady

The total number of rigs drilling for crude oil and natural gas in the US has remained steady at 551 units last week, according to Baker Hughes.

The number of oil rigs decreased by three over the week to 409, while gas rigs gained by three to 133.

There were also 9 miscellaneous rigs in operation, the same as a week earlier.

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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