Weekly Oil Rig Count Update

In a recent development, the United States has witnessed an increase in its oil rig count, reaching 489 by the week ending April 4. This marks a rise of five rigs from the previous week, as reported in the latest Baker Hughes weekly rig count released on Friday. However, when compared to the same period last year, there's a notable decrease of 19 oil rigs.

Gas Rig Count and Overall Trends

The scenario for gas rigs tells a different story, with a decline of 7 rigs, bringing the total to 96 for the same week. Year-over-year, the gas rig count has seen a more significant drop of 14. Overall, the total number of rigs operating in the US now stands at 590, showing a slight decrease of two from last week and a more substantial reduction of 30 from the previous year.

Stay tuned for more updates on this evolving story.