The total oil rig count of active drilling rigs in the US increased this week, with oil rigs rising for the third consecutive week.
The total rig count in the US rose to 542, according to Baker Hughes, down 46 from this same time last year. The rig count is still near four-year lows.
The number of oil rigs rose by 2 for the third week in a row, reaching 418. Year over year, this represents a 70-rig decline. The number of gas rigs stayed the same at 118 for a gain of 22 active gas rigs from this time last year. The miscellaneous rig count rose by 1 to 6.
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Source: Oil Price
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