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US drillers add oil and gas rigs for third week in a row – Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since December 2023, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to 588 in the week to February 14. Despite this week’s rig increase, Baker Hughes said the total count was still down 33 rigs, or 5% below this time last year. Baker Hughes said oil rigs rose by one to 481 this week, while gas rigs gained one to 101. The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil ... (full story)
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- Posted: Feb 14, 2025 3:18pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 161
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