- The number of active U.S. rigs drilling for oil rose by 21 to 659 in the latest week, reversing last week’s downturn, according to weekly data from Baker Hughes.
- The increase is the largest so far this year, and the count has climbed in three of the past four weeks after 29 straight weeks of decline.
- The total active rig count, which includes natural gas rigs, gained 19 to 876.
- There are still ~59% fewer oil rigs working since a peak of 1,609 last October, while the total rig count has fallen ~53%.
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