US Oil Drillers Add Rigs as Prices Inch Up

US oil drillers added rigs to their operations this week, according to new data from Baker Hughes. The total number of active drilling rigs in the US stayed the same overall at 588, up 49 from last year.

The number of active oil rigs rose by 3 to 454, which is 43 above last year's count. Meanwhile, gas rigs fell by 3 to 124, but are still one more than they were this time last year.

The Permian Basin saw an increase in active drilling rigs, rising by 3 to 263 and now standing 7 rigs above last year's levels. Oil prices have also seen a slight uptick, with Brent trading at $83.55 per barrel (+1.29%) and WTI at $78.21 per barrel (+1.19%).