The number of active drilling rigs in the United States rose by 3 this week, bringing the total rig count to 604, as oil prices linger just under 7-year highs. Last week’s count compared with an increased rig count to 601 (+13) during the previous week. Baker Hughes reported the total active rig figure was 226 rigs higher than the rig count this time in 2021. Oil-directed rigs were fell 1 to 491, while gas-directed rigs were up by 4 to 113. Oil production in the U.S. last week stayed at 11.7 million bpd, according to the Energy Information Administration. This is up from 11 million bpd at the beginning of 2021. The rig count in the Permian Basin fell by 1 this week, as the EIA called for record production from the Permian basin next month, at more than 5 million barrels per day. The number of rigs […]