2023-10-27 17:14:27
The monthly U.S. oil rig count increased for the first time since November, after drillers added rigs for the third straight week, energy services company Baker Hughes said in its follow-up report up close on Friday.
The number of oil and gas installations, an early indicator of future production, increased by one to 625 in the week ending October 27.
The number of oil drilling rigs in the United States increased by two to 504 this week, while the number of gas drilling rigs decreased by one to 117.
For the month, drillers added two rigs, increasing the total number of oil and gas wells for the first time since March.
In October, the number of oil drilling rigs increased by two for the first time since November, while the number of gas drilling rigs increased by one for the second consecutive month.
U.S. oil futures are up about 6% year to date, after rising about 7% in 2022. U.S. gas futures, meanwhile, have plunged ‘about 28% since the start of the year, after increasing by about 20% last year. (Reporting by Scott DiSavino; Editing by Marguerita Choy)
1698446322
#Monthly #rig #count #increases #U.S #time #November #Baker #Hughes #October #p.m