U.S. Oil Rigs See Largest Increase since January

The number of active rigs drilling for crude oil and natural gas in the United States increased by nine rigs to 411 this week, weekly data by Baker Hughes showed on Friday.

The increase in the rig count was entirely attributed to the increase in oil rigs to 318, while natural gas rigs remained unchanged.

This marked the largest weekly increase in oil rigs since last January.

The oil rig count remains 346 below the same time of last year.