US Drillers Add Oil, Gas Rigs for Fourth Week in a Row

U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row as more storm-hit offshore units resumed service in the Gulf of Mexico, and as crude prices this week hit three-year highs, prompting drillers to return to the wellpad.

The oil and gas rig count, an early indicator of future output, rose seven to 528 in the week to Oct. 1, its highest since April 2020, energy services firm Baker Hughes Co. said in its closely followed report on Oct. 1.