US oil rig count rises to highest since June, Baker Hughes says

US energy firms cut rigs for the second week, though oil rigs rose to the highest level since June, according to Baker Hughes' latest report.

U.S. energy firms this week cut the total number of rigs operating for a second week in a row, even as the number of oil rigs rose to the highest since June, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, fell by two to 590 in the week to April 4.

aker Hughes said this week’s decline put the total rig count down 30 rigs, or 5% below this time last year.

Baker Hughes said oil rigs rose by five to 489 this week, their highest since June, while gas rigs fell by seven, the most in a week since May 2023, to 96, their lowest since September.

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Source: yahoo!finance

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