01 Dec, 23

U.S. Oil Drillers See More Gains As OPEC+ Agrees to Cut Production

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The total number of active drilling rigs in the United States rose by 3 this week after rising by 4 last week, according to new data that Baker Hughes published Friday. The total rig count rose to 625 this week. Since this time last year, Baker Hughes has estimated a loss of 159 active drilling rigs. This week’s count is 450 fewer rigs than the rig count at the beginning of 2019 prior to the pandemic. The number of oil rigs rose by 5 to 505. Oil rigs are now down by 122 compared to this time last year. The number of gas rigs fell…

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