Oil and gas rigs bump higher in Baker Hughes survey

Nov. 18, 2022 1:07 PM ETThe United States Oil ETF, LP (USO)UCO, DBO, USL, SCO, USOI, NRGUBy: Carl Surran, SA News Editor15 Comments

Working Pumpjacks On Sunset

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Active drilling rigs in the U.S. increased by 3 to 782, the highest since March 2020 and 39% above the active rig count at the same time last year, Baker Hughes said Friday in its latest weekly report.

Drilling rigs targeting crude oil added 1 to 623, also the most since March 2020 after jumping by 9 a week earlier, while gas rigs gained 2 to 157 and 2 rigs remained classified as miscellaneous

Rigs targeting oil in the Permian Basin fell by 2 to 345.

ETFs: (NYSEARCA:USO), (UCO), (SCO), (USL), (DBO), (USOI), (NRGU)

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