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US active oil and gas rig count rises to 581, Baker Hughes data show
The latest Baker Hughes data put US crude oil production at 13.860 million bpd for the week ending July 3, up from 13.810 million bpd the prior week.
Oil and gas drilling activity in the United States edged higher, according to data Baker Hughes published on Friday. The total number of active rigs rose to 581, up 44 from the same time last year.
Within the breakdown, the number of active oil rigs held at 445 in the latest reporting period, which is 21 above year-ago levels. Gas rigs also stayed steady at 126, 18 higher than a year earlier, with the miscellaneous rig count up by 1 to 10.
Other industry indicators also moved. Baker Hughes’ related frac spread estimate rose by 5 to 205 crews for the week ending July 2, while the number of active drilling rigs in the Permian Basin fell by 5 to 256, 9 below year-ago levels.
Oil prices were lower on Friday, with Brent trading around $75.7 per barrel and WTI near $71.3, both down on the day even as Brent remained roughly $4 higher than a week earlier, according to OilPrice’s market snapshot.
Latest closeWTI crude $71.84 ▼2.3%|Brent $75.98 ▼2.6%