Oil and gas rigs in the U.S. rose to a four-month high, according to Baker Hughes' latest...

|By:, SA News Editor

Oil and gas rigs in the U.S. rose to a four-month high, according to Baker Hughes' latest survey, as drillers moved to take advantage of rising prices. The count rose by six to 1,776, the most since March 15 and the fourth straight weekly increase; oil rigs rose to 1,401 while gas rigs maintained a three-month high of 369. The EIA says U.S. oil output climbed to 7.56M barrels last week, the most since Dec. 1990.