SPY420.86+5.94 1.43%
DIA338.78+5.82 1.75%
IXIC14,141.48+111.10 0.79%

US Oil Rig Count Rises by Two This Week, Baker Hughes Says

05/07/2021 11:24

03:19 PM EDT, 05/07/2021 (MT Newswires) -- The number of oil rigs operating in the US rose by two this week, according to data compiled by energy-services firm Baker Hughes (BKR).

The count ended at 344 in the seven days through Friday, Baker Hughes said. A year ago, the US had 292 rigs in operation.

West Texas Intermediate and international benchmark Brent each rose about 0.2% in Friday trading to $67.82 a barrel and $68.19 a barrel, respectively.

Oil and gas rigs in the US rose by eight to 448. Gas rose by seven to 103 while the number of miscellaneous fell by one to one, the Houston-based company's data showed. In the same period of 2020, there were 80 gas rigs in operation and 374 in total.

Across North America, oil and gas equipment rose by 12 to 503, up from 400 at the same point last year. In Canada, the count was up by four at 55, compared with 26 operating during the same period last year. Canada's oil rig count up by two at 22 while gas also added two to 33.

Among US states, top producer Texas added five rigs while Louisiana rose by three. California fell by one.