Baker Hughes (NYS:BKR) on Friday reported that the number of active U.S. rigs drilling for oil rose by 2 to 289 this week. That followed increases in each of the last eight weeks. The total active U.S. rig count, which includes those drilling for natural gas, was also up by 5 to 378, according to Baker Hughes. March West Texas Intermediate crude continued to trade sharply lower following the data, losing 75 cents, or 1.4%, to $52.38 a barrel on the New York Mercantile Exchange.
Jan. 22, 2021, 1:12 p.m. EST