Higher Oil Prices Tempt US Drillers To Turn Up The Volume

AI Summary

Higher oil prices have encouraged an increase in the number of active oil drilling rigs in the United States, though overall rig count remains slightly below last year's levels. Oil rigs increased by 10, while gas rigs decreased by 3 in the most recent data reported by Baker Hughes.

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 558,  down just 8 from this same time last year. The number of active oil rigs rose by 10 to 425 during the latest reporting period, according to the data. This is 30 below this same time last year. The number of gas rigs fell by 3. Gas rigs now sit at 125, which is 17 more than this time last year. The miscellaneous rig stayed the same at 8. The…