US energy companies increased the number of oil and gas rigs for the fifth week in a row, as rising prices and government encouragement spur companies to increase production.
Baker Hughes Energy Services said in its report on Friday that the number of oil and gas rigs, an early indicator of future production, increased by two to 695 in the week ending April 22, its highest level since March. 2020.
Since Russia’s invasion of Ukraine on February 24, the US government has asked companies to increase oil and gas production to help allies abandon Russian energy resources. The number of oil rigs this week increased by one to 549, the highest level since April 2020, and the number of gas rigs also increased by one to 144, to simulate a number that was last recorded in early October 2019.
Although the number of rigs rose for a record period of 20 months in a row until March, the weekly increases were mostly in single digits, and oil production is still well below its pre-pandemic levels, with many companies focusing more To return money to investors and pay off debts rather than increase production.
(Archyde.com)
