Oil, Gas Rigs Increase For Seventh Straight Week

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 9 to 360. The oil and gas rig count has risen for seven weeks in a row for a total gain of 50. The oil rig count increased by 8 this week, while the number of gas rigs increased by 1. The number of miscellaneous rigs was also unchanged. Total oil and gas rigs in the United States are now down by 421 compared to this time last year. The EIA’s estimate for oil production in the United States stayed the same during the week ending January 1, at 11.0…