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US Oil Rig Count Increases But Gas Count Declines

ENERGY

The latest update to the Baker Hughes US rig count data was released early last night due to the US holidays.

  • The oil rig count continued the renewed push higher with the count increasing 4 to 627. The oil count has gradually increased since early October after seeing a levelling off during Q3 2022.
  • The gas rig count has been drifting lower in recent weeks with last week down 2 to 155.

Source: Baker Hughes / Bloomberg

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