Open Demo Account
Home / Market Update / Commodities / US Oil-Drilling Rig Count Up For Second Straight Week

US Oil-Drilling Rig Count Up For Second Straight Week

Mohamed Abdelhamid 5 February, 2022 12:22 am Commodities, Market Update

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was up by two to 497 this week. That followed a climb of four oil rigs the week before, Baker Hughes data show.

The total active U.S. rig count, which includes those drilling for natural gas, climbed by three to 613, according to Baker Hughes. Oil prices continued to trade higher in Friday dealings, buoyed by risks to U.S. and global supplies.

March West Texas Intermediate crude was up $2.17, or 2.4%, at $92.44 a barrel on the New York Mercantile Exchange.

Tags

Check Also

U.S. Jobless Claims Rise More Than Expected, Testing Labor Market Resilience After Fed Rate Cut

U.S. initial jobless claims climbed more than expected last week, breaking from the prior week’s …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends