The number of oil and gas rigs in the United States is up 4 this week, according to Baker Hughes , with the total rig count at 479, up 221 from the same time last year. The U.S. oil rig count rose by 2 this week to 378. The number of gas rigs increased by 2 and now sits at 101. The number of miscellaneous rigs stayed the same. The EIA’s estimate for oil production in the United States for the week ending July 2 was slightly higher than the previous week at an average of 11.3 million barrels per day , up 2 million bpd. The EIA hiked its estimate on July 1 st for the average spot price of the U.S. benchmark, WTI Crude, will be $65.85/b this year, up from an average of $61.85/b expected last month. Canada’s overall rig count increased this week as well, […]