Commodities
US Oil Rig Count Jumps as Crude Prices Top $100
The US oil rig count has increased, rising to 591 active rigs, up 52 from this time last year. This marks a significant increase in drilling activity as crude oil prices top $100 per barrel.
The number of active oil rigs rose by 1, reaching 450 during the latest reporting period, which is 34 more than this same time last year. The number of gas rigs increased by 2 to 132, a figure that is 14 more than this time last year.
The Permian Basin saw no change in active drilling rigs, remaining at 268. This is 14 rigs above the level seen at this time last year. The Eagle Ford region also experienced an increase, with one additional rig reaching a total of 51.