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U.S. oil drilling rigs up for fifth successive week

Mohamed Abdelhamid 8 October, 2021 9:35 pm Commodities, Market Update

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by five to 433 this week.

That followed increases in each of last four weeks. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by five to stand at 533, according to Baker Hughes.
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November West Texas Intermediate crude continued to trade higher, up $1.09, or 1.4%, at $79.39 a barrel on the New York Mercantile Exchange, with prices headed for their highest finish since October 2014, FactSet data show.

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