US Oil Rigs Down, Gas Rigs Up in Past Week

U.S. oil rigs fell three to 524 this week, while gas rigs rose two to 137—their highest since October 2019, Baker Hughes said.

Scott DiSavino, Reuters

U.S. energy firms this week reduced the number of oil rigs active in the United States even as oil prices continued to trade over $100 a barrel after Russia's invasion of Ukraine stoked global energy supply concerns.

Overall, the total rig count, however, remained unchanged because drillers added some natural gas and other rigs this week.

That kept the U.S. oil and gas rig count, an early indicator of future output, steady at 663 in the week to March 18, energy services firm Baker Hughes Co. said in its closely followed report. 

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access