U.S. Oil Rig Count Falls Despite Major Rally In Crude Prices

The number of total active drilling rigs in the United States stayed the same this week—bringing the 18 weeks of increases to a close as pressure mounts on the Biden Administration to do more to increase crude oil production in the United States in an effort to relieve high gasoline prices. The total rig count remains at 650, as the world watches for any signs of increased output from the United States that would allow weaning off from Russian oil—at least in part. Baker Hughes reported this week that the total active rig figure—oil,…