The number of oil drilling rigs in the United States increased during the week ended Dec. 30, rising for the second consecutive week.
Data released on Dec. 30 by Baker Hughes showed that the US oil rig count rose by three to 412 this week, signaling the potential for higher crude supply in the future.
Meanwhile, the number of natural gas drilling rigs declined by two to 125 during the same period, after remaining unchanged in the previous week.
Baker Hughes typically releases these data on Fridays; however, they were published on Tuesday due to the upcoming New Year’s Day holiday on Thursday.
| Item | Year Before | Last Week | Current | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| No. of Rig Count | 483 | 412 | 412 | 0 | (71) |
| Gas | 102 | 125 | 125 | 0 | 23 |
| Oil & Gas | 585 | 537 | 537 | 0 | (48) |
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