U.S. Oil Rig Count Climbs to 18-Month High

The number of oil rigs operating in the U.S. surged by 10 to 662, climbing for the 11th consecutive week to the strongest level since Sept. 4, 2015, according to data from energy services firm Baker Hughes (BHI), tracking the latest seven-day period ended March 31.

In the U.S., the combined oil and gas rigs count climbed by 15 to 824, while gas rigs rose by five to 160. In Canada, the number of oil rigs in operation plummeted by 15 to 55, while the number of gas rigs declined by 14 to 100. The North American total slid by 15 to 979 in the week compared with 499 from a year ago, the data showed.

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