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Baker Hughes data show U.S. oil-drilling rig count down for the first time in 6 weeks

34084 baker hughes data show us oil drilling rig count down for the first time in 6 weeks

Baker Hughes BKR, +3.56% on Friday reported that the number of active U.S. rigs drilling for oil was down by three to 519 this week. That followed increases in each of the last five weeks, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, was unchanged at 650, according to Baker Hughes. Oil prices continued to rally in Friday dealings, finding continued support from Russia invasion of Ukraine. April West Texas Intermediate crude CLJ22, +4.71% was up $4.83, or 4.5%, at $112.50 a barrel on the New York Mercantile Exchange.

Source: Marketwatch

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