U.S. rig count keeps increasing this week

Source: Xinhua | 2018-03-19

The U.S. rig count added six this week, building on weeks of consistent but slow growth, according to weekly data collected by Baker Hughes released on Friday.

Houston oilfield services company Baker Hughes reported that the number of oil-seeking rigs increased by four this week, for a total of 800 active oil wells in the country -- a figure that is 169 more than this time last year.

The total number of oil and gas rigs now stands at 990, which is an addition of 201 rigs year on year.

The overall rig count, including oil and gas rigs, has sat below 1,000 since April 2015 when oil prices were collapsing.