Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 1 this week. The total number of active oil and gas rigs in the U.S. is now at 403—or 390 fewer than this time last year. The oil rig count increased by 1 this week, and the number of gas rigs stayed the same. The number of miscellaneous rigs also remained unchanged. The EIA’s estimate for oil production in the United States for the week ending February 26 rose by 300,000 bpd to 10 million barrels , after suffering devastating losses in the week prior courtesy of the Texas Freeze, which caused major blackouts throughout the state. Canada’s overall rig count decreased this week by 22. Oil and gas rigs in Canada are now at 141 active rigs and down 62 year on year. The Permian basin saw another increase […]