The number of active drilling rigs for oil and gas in the US rose by 1 to 549 this week, according to Baker Hughes. Oil rigs increased by 3 to 417, while gas rigs fell by 3 to 125. The miscellaneous rig count also rose by 1 to 7.

Weekly US crude oil production hit a new high of 13.862 million bpd, up from 13.651 million bpd the week prior, as per EIA data. Primary Vision’s Frac Spread Count dropped by 2 to 173, marking the third consecutive weekly decline.

In the Permian Basin, active drilling rigs increased by 2 to 253, while the Eagle Ford saw a decrease of 1 to 41. The WTI benchmark was up $1.51 per barrel, aiming to finish above $60, with Brent benchmark trading at $64.49, up $1.48 per barrel.

(Source: Oilprice.com)

Read more at Yahoo Finance: US Oil Drilling Picks Up: Baker Hughes