U.S. Rig Count Jumps As Crude Rally Continues

The number of active drilling rigs in the United States rose by 13 this week, bringing the total rig count at 601, as oil prices keep to bull territory even as the fresh wave of Covid-19 cases brought by the new variant threatens to diminish demand. Last week’s count compared with an unchanged rig count of 588 during the previous week. Baker Hughes reported the total active rig figure was 228 rigs higher than the rig count this time in 2021. Oil-directed rigs were up by 11 to 492, while gas-directed rigs were up by 2 to 109. Oil production…