Reported 1 day ago
According to Baker Hughes, U.S. energy firms increased the oil and natural gas rig count for the fourth consecutive week, reaching its highest level since June at 592 rigs. Despite this month's rise, the count remains down 5% from last year. Oil rigs increased by seven to 488, but gas rigs decreased by two to 99. The U.S. Energy Information Administration forecasts a rise in crude output and expects a significant increase in gas prices, which could encourage more drilling activity in 2025.
Source: YAHOO