Oil Rig Count Rises As Brent Prices Flirt With $70

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 again this week, bringing the total rig count to 457—a more than 100-rig gain since the start of the year. In the week prior, the U.S. oil and gas rig count increased by 2. But the longer trend in rig count additions bodes well for the U.S. oil industry, as drillers pick up the pace, adding 106 rigs so far this year, more than half of which were added in Texas. The total number of active oil and gas drilling rigs in the U.S. is now 156…