U.S. drillers add oil and gas rigs for fourth week in a row
U.S. energy firms last week added oil and natural gas rigs for a fourth week in a row as the federal government seeks more production to help allies wean themselves off Russian oil and gas after Moscow invaded Ukraine on Feb. 24.
The Kremlin calls its activities in Ukraine a “special military operation.”
The oil and gas rig count, an early indicator of future output, rose four to 693 in the week to April 14, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on Thursday.
U.S. oil rigs rose two to 548 this week, their highest since April 2020, while gas rigs rose two to 143, their highest since October 2019.
