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U.S. drillers add most oil & gas rigs in a week since January -Baker Hughes

Mar 22, 2021

March 19 (Reuters) – U.S. energy firms added the most oil and natural gas rigs in a week since January even as oil prices this week pulled back from a recent 28-month high.

The oil and gas rig count, an early indicator of future output, rose nine to 411 in the week to March 19, its highest since April, energy services firm Baker Hughes Co said in its closely followed report on Friday. RIG-USA-BHIRIG-OL-USA-BHIRIG-GS-USA-BHI

That puts the rig count, which has climbed over the past seven months, up 68% since falling to a record low of 244 in August 2020, according to Baker Hughes data going back to 1940.

U.S. drillers add most oil & gas rigs in a week since January -Baker Hughes