This week, the total number of active drilling rigs for oil and gas in the United States rose, according to new data published by Baker Hughes. The total rig count in the US reached 588, up 44 from the same time last year.
The number of active oil rigs rose by 7, reaching 452 during the latest reporting period, which is 30 above the same time last year. The number of gas rigs remained the same at 126, which is 9 more than this time last year.
Latest EIA data showed that weekly U.S. crude oil production rose during the week ending July 10. U.S. crude oil production averaged 13.861 million bpd during the reporting period, slightly up from 13.860 million bpd last week and up 486,000 bpd from a year ago.
Oil prices were up on Friday with Brent now trading at $87.76 (+4.19%).
