U.S. Rig Count Rises Despite Coronavirus Threat

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 221. The total number of active oil and gas rigs increased for the week by 9, with oil rigs rising by 10 and gas rigs falling by 1. Total oil and gas rigs in the United States are now down by 526 compared to this time last year. The EIA’s estimate for oil production in the United States rose in the week ending October 23—rebounding from 9.9 million barrels in the week prior to 11.1 million barrels of oil per day. U.S. oil production has been…