Oil Rig Count Drops as Oil Prices See Strongest Weekly Gain Since 2022

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 this week to 585, compared to 619 rigs this same time last year. The number of oil rigs fell by 5 this week to 479—down by 18 compared to this time last year. The number of gas rigs rose by 3 this week to 102, a loss of 16 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 4. Meanwhile, U.S. crude oil production rose in the week…