U.S. Oil Rig Count Climbs Higher As Crude Prices Rise

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 6 this week, after an increase of 9 last week. The total number of active oil and gas rigs in the U.S. is now at 417, which is 311 fewer than this time last year. The oil rig count has increased by nearly 30 rigs over the last two months. The oil rig count increased by 6 this week to 324, and the number of gas rigs stayed the same at 92. The number of miscellaneous rigs also remained unchanged at 1. The EIA’s estimate for oil production in…