U.S. Rig Count Stabilizes This Week

The number of rigs drilling for crude oil and natural gas in the United States remained unchanged this week, data showed on Friday.

The rig count stood at 470 for the week ending June 25, according to the weekly report by Baker Hughes.

The number of oil rigs decreased by one to 372, which was offset by an increase in natural gas rigs by a single rig to 98.

On an annual basis, the number of rigs is higher by 77%, or 205 rigs, compared with the same time of last year.