US oil and gas rig count rises to highest since June, Baker Hughes says

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US oil and gas rig count rose by 7 to 549 in the week to Sept 26, the highest since June, marking a 4th straight weekly increase since Feb.

U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday. Learn more about US oil US oil and gas rig count.

The oil and gas rig count, an early indicator of future output, rose by seven to 549 in the week to September 26, its highest since June.

Despite this week’s rig increase, Baker Hughes said the total count was still down 38 rigs, or 6% below this time last year.

Baker Hughes said oil rigs rose by six to 424 this week, their highest since July, while gas rigs fell by one to 117, their lowest since July.

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Source: yahoo!finance

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