U.S. Oil Rig Count Sees Tiny Increase Amid Oil Price Rally

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 1 this week. The total number of active oil and gas rigs in the U.S. is now at 403—or 390 fewer than this time last year. The oil rig count increased by 1 this week, and the number of gas rigs stayed the same. The number of miscellaneous rigs also remained unchanged. The EIA’s estimate for oil production in the United States for the week ending February 26 rose by 300,000 bpd to 10 million barrels, after suffering devastating losses in the…