The oil and gas rig count, an early indicator of future output, rose 14 to 728 in the week to May 20, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report.
Baker Hughes said that puts the total rig count up 273, or 60%, over this time last year.
U.S. oil rigs rose 13 to 576 this week, their highest since March 2020, while gas rigs gained one to 150, their highest since September 2019.
