U.S. Oil Rig Count Soars As WTI Recovers

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 5 this week, bringing the total rig count to 453. In the week prior, the U.S. oil and gas rig count increased by 8. The total number of active oil and gas drilling rigs in the U.S. is now 114 more than this time last year. The oil rig count increased by 8 this week, bringing the total oil rig count to 352 this week. The number of gas rigs decreased by 3 to 100. The number of miscellaneous rigs stayed the same. The EIA’s estimate for oil production…