U.S. drillers add oil and gas rigs for first time in three weeks

The U.S. oil and natural gas rig count rose this week for the first time in three weeks, as crude output slowly returns to pre-pandemic levels despite high prices as producers focus on returning money to shareholders and paying down debt.

The oil and gas rig count, an early indicator of future output, rose six to 733 in the week to June 10, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.

U.S. drillers add oil and gas rigs for first time in three weeks