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US Oil Drillers Turn Cautious as WTI Holds Near $85 per Barrel
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 588, up 48 from this same time last year.
AI Summary
The latest Baker Hughes data shows that U.S. oil and gas drilling activity has increased, with the total number of active rigs rising to 588, up 48 from the same period last year. Oil rigs increased by one to 451, a gain of 41 over the previous year. Gas rigs remained steady at 127, up three from last year, while miscellaneous rigs stayed at 10. The uptick in drilling activity comes as West Texas Intermediate crude prices hold near $85 per barrel.
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