U.S. Oil Rig Count Climbs

The number of oil rigs operating in the U.S. advanced by 14 to 631, increasing for the ninth consecutive week and jumping to the strongest level since Sept. 2015, data from energy services firm Baker Hughes (BHI) showed for the seven-day period ended March 17.

In the U.S., the combined oil and gas rigs count rose by 21 to 789, while gas rigs climbed by six to 157. In Canada, the number of oil rigs in operation plummeted by 31 to 149, while the number of gas rigs slumped by 10 to 125. The North American total retreated by 18 to 1,065 in the week compared with 545 from a year ago, the data showed.