Large Rig Count Gains Rock Oil Markets

OilPrice ------ The number of active oil and gas rigs in the United States increased on Friday by 18 for a total of 712 active rigs, according to oilfield services provider Baker Hughes, which is 93 rigs above the rig count a year ago. Last week, the oil and gas rig count was up by 35. Most of this week's gains were oil rig gains, which were up 15, from 551 last week to 566 this week. The number of active oil rigs in the United States is now 68 more than the same week last year. Gas rigs also saw a modest three-rig increase, from 142 last week to 145 this week, which is 24 above the count for the same week last year. This marks' 12 straight increases to the gas rig count. For more on the large rig count gains rock oil markets click the picture below to read more.