Baker Hughes data shows a weekly increase in active oil rigs, reaching 415, though still below year-ago levels.
The number of active oil rigs in the US rose by 5 to 415 in the latest reporting period, reflecting a response to higher crude prices. The total rig count, including gas and miscellaneous, stands at 551, down 25 from a year earlier.
Oil rigs remain 50 below the same period last year, while gas rigs increased by 20 to 128. The miscellaneous rig count declined by 1 to 8. The data highlights a selective rebound in drilling activity amid shifting energy market dynamics.
No immediate market reaction was specified in the release.