U.S. oil rig count down but gas rigs shoot higher , Baker Hughes reports

Mar. 17, 2023 2:30 PM ETThe United States Oil ETF, LP (USO)UCO, DBO, USL, SCO, GUSH, DRIP, USOI, NRGUBy: Carl Surran, SA News Editor4 Comments

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Total active drilling rigs in the U.S. rose by 8 to 754, Baker Hughes said in its latest weekly report, snapping four consecutive weekly declines.

Drilling rigs targeting crude oil in the U.S. fell by 1 to 589 but gas rigs gained 9 to 162, while 3 rigs remain classified as miscellaneous.

The total rig count is 13% higher than at the same time last year, although the percentage mostly has been declining for several weeks.

Rigs targeting oil in the Permian rose by 6 to 345.


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