Look for the 23rd consecutive week of rising drilling rigs in Baker Hughes report

Oil rigs have climbed for 23 weeks

The Baker Hughes oil and gas rig count is due at the top of the hour (1 pm ET). Last week, the report showed 747, up from 316 in May 2016.

Higher oil prices and efforts to cut costs have made more shale oil than ever economically viable. Rigs are now at the highest since April 2015 and are far more efficient than ever.