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U.S. Oil Rigs Rise by Four in Week

M. Ali 27 February, 2021 12:48 am Commodities, Market Update

The number of active rigs drilling for oil in the United States increased by four to 309 this week, according to data by Baker Hughes released on Friday.

Natural gas rigs rose by one rig, with the total rig count increasing by five to 402.

Last week, oil rigs recorded their first decrease since November 2020, declining by a single rig, following 12 consecutive weeks of increasing, which marked the longest period of rising since June 2017.

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