US Drillers Add 8 Oil Rigs, 5 Gas Rigs in Past Week

In its latest report, Baker Hughes said the total count of oil and natural gas rigs in the U.S. is up 261 rigs, or 65%, over this time last year.

Scott DiSavino, Reuters

U.S. energy firms this week added oil and natural gas rigs for the ninth time in 10 weeks after Russia's invasion of Ukraine drove crude prices to their highest since 2008.

The oil and gas rig count, an early indicator of future output, rose 13 to 663 in the week to March 11, its highest since April 2020, energy services firm Baker Hughes Co. said in its closely followed report.

Baker Hughes said that puts the total rig count up 261 rigs, or 65%, over this time last year.

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