Baker Hughes shows weekly active rig count for the U.S. unchanged, but oil rigs up 213 for the year


Baker Hughes BKR, +0.46% data on Friday afternoon showed the U.S. weekly active oil-rig count standing pat at 586. Oil rigs were steady at 480 and those rigs drilling for natural gas held at 106, according to the companies data. For the year, rigs are up 235, with those drilling for oil increasing by 213 and gas rigs up by 23. West Texas Intermediate oil for February delivery CLG22, -2.00% CL00, -2.00% held lower, down $1.58, or 2.1%, to trade at $75.25 a barrel on the New York Mercantile Exchange. Crude values broadly are climbing, with WTI up 2.2%, rising by about 14% for the month and 56% in 2021, FactSet data show. Fading concerns about the demand impact from the omicron variant has supported recent gains, strategists said.

Source: Marketwatch

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