Total rigs rise to 323 from 320 last week
The weekly Baker Hughes rig count is showing a rising oil rigs and total rigs. Gas rigs fell.
The numbers are showing:
- total rigs 323 vs. 320 last week
- oil rigs 246 vs. 241 last week
- Gas rigs 75 vs. 77 last week
Oil rigs bottomed at 244 during the August 14 week. The climb off the low has been slow but steady. Nevertheless the recount is down sharply from the January high of 805, and still has a ways to go before reaching the 2016 low at 404 oil rigs.
