U.S. Oil Rig Count Climbs In Lockstep With Crude Prices

The number of oil and gas rigs in the United States rose by 10 this week, according to Baker Hughes, bringing the total number of additions since the start of the summer to 95. The total rig count is now at 543, up 261 from this time last year, but still under the 790 active rigs as of March 2020. The U.S. oil rig count rose this week to 445—a 12-rig increase—the largest oil-rig increase since April. The number of gas and miscellaneous rigs each fell by 1. The EIA’s estimate for oil production in the United States for the…