US Drillers Add Most Oil and Gas Rigs in a Week Since April, Report Shows

U.S. oil rigs rose 11 to 492 this week, their highest since April 2020, while gas rigs rose two to 109, their highest since March 2020.

Scott DiSavino, Reuters

U.S. energy firms this week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the wellpad.

The oil and gas rig count, an early indicator of future output, rose 13 to 601 in the week to Jan. 14, its highest since April 2020, energy services firm Baker Hughes Co. said in its closely followed report.

The total count was up 228, or 61%, over this time last year.

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