Number of oil and gas drilling rigs in US grows

The number of operating oil and gas rigs in the US rose for the second week in a row. Drilling activity remained strong amid high oil prices, Report informs referring to Baker Hughes, an oil service company.

The number of active oil and gas drilling rigs, a leading indicator of production, increased by 9 units in the week of November 5-11, to 779 units. This is the highest since March 2020.

The indicator increased by 9 units to 622 units, the highest level since March 2020. The number of gas drilling rigs remained unchanged at 155 units.