U.S. Oil Rigs at Highest Level Since April 2020

The number of crude oil and natural gas rigs in the United States increased for the fourth consecutive week, data showed on Friday.

This is the first time that the total rig count registers four straight weekly rises since May.

The total rig count rose by seven to 491 in the week ending July 23, reaching its highest level since April 2020.

The increase came entirely from oil rigs that reached 387, while natural gas rigs remained unchanged at 104.