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Oil rig count rises for 2nd straight week

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Staff writer ▼ | June 10, 2016
Oil rig count
Oil exploration   Some drillers decided to bring rigs online

The U.S. rig count rose for a second straight period this week, by 3 to 328, according to Baker Hughes.

This indicates that some drillers decided to bring rigs online as oil prices rebounded and headed towards $50 per barrel.

The gas rig count rose 3 to 85, and the total was up 6 to 414.

Last week, the tally rose for the first time this year, by 9. The gas rig count fell 5, and the total rose 4 to 408.

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