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Baker Hughes reports a 4th straight weekly climb in the U.S. oil-drilling rig count

37445 baker hughes reports a 4th straight weekly climb in the us oil drilling rig count

Baker Hughes BKR, +0.19% on Thursday reported that the number of active U.S. rigs drilling for oil was up by two to 548 this week. That followed increases in each of the previous three weeks, Baker Hughes data show. The data were released a day this week early because most financial markets are closed on Good Friday. The total active U.S. rig count, which includes those drilling for natural gas, climbed by four at 693, according to Baker Hughes. Oil prices continued to move higher. May West Texas Intermediate crude CLK22, +2.20% was up $1.25, or 1.2%, at $105.50 a barrel on the New York Mercantile Exchange.

Source: Marketwatch

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