Oil Rig Count Jumps As WTI Moves Back Above $60

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 9 this week. The total number of active oil and gas rigs in the U.S. is now at 411—still 361 fewer than this time last year. The oil rig count increased by 9 this week, and the number of gas rigs stayed the same. The number of miscellaneous rigs also remained unchanged. The EIA’s estimate for oil production in the United States for the week ending March 12 stayed the same this week at 10.9 million barrels, after a sharp increase the…