US Oil Drilling Rigs Rise Amid New Production High

The number of active drilling rigs for oil and gas in the US rose by 1 to 549 this week, according to Baker Hughes. The number of active oil rigs increased by 3, reaching 417, while the number of gas rigs fell by 3 to 125. US crude oil production reached a new high of 13.862 million bpd in the week ending November 7. The Permian Basin rig count rose by 2 to 253, and the Eagle Ford count fell by 1 to 41.