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U.S. Oil Rig Count Rises for 11th Week in Row

M. Ali 5 February, 2021 11:38 pm Commodities, Market Update

The number of active rigs drilling for crude oil and natural gas in the United States increased by 8 this week, according to the weekly reported released by Baker Hughes on Friday.

The total rig count currently stands at 392, less by 398 rigs compared with the same time of last year.

This is the 11th consecutive rise in the number of oil and gas rigs in the U.S.

The number of oil rigs rose by four rigs this week, while natural gas rigs increased by another four, data showed.

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