The U.S. rig count rises again.
U.S. oil rigs fell five to 231 this week, while gas rigs gained three to 76, their highest since July, according to Baker Hughes data.
The U.S. rig count rose by 10 last week.
The oil and gas rig count rose 12 to 312 in the week to Nov. 13, energy services firm Baker Hughes Co. said in its weekly report.
The U.S rig count is up 14% over the last month with the largest gains in the Gulf Coast and Permian Basin regions.
The oil and gas rig count rose four to 300 in the week to Nov. 6, Baker Hughes Co. said in its weekly report.
The U.S. rig count rose 11% in October but was down 60% year-over-year.
U.S. energy firms this week added oil and natural gas rigs for a seventh week in a row for the first time since June 2018, and for a third consecutive month, even as oil majors cut spending due to the COVID-19 pandemic's impact on energy demand and prices.
The rig count slowly increased by nine new rigs this past week with increases in the Rockies and Permian Basin.
The oil and gas rig count rose five to 287 in the week to Oct. 23, its highest since May, energy services firm Baker Hughes Co. said in its weekly report.