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By Published On: December 5, 20250.5 min read

Last week, the Baker Hughes oil rig count saw a significant decline, falling by 12 rigs. However, today there has been a partial recovery, with the rig count rising by 6 to reach a total of 413. Meanwhile, natural gas rig counts decreased by 1 to 129. Overall, the total number of rigs for the week increased by 5, bringing the total to 549.

In terms of crude oil prices, the market is trading near the day’s highs. The price has risen by $0.60, or 0.41%, to $60.28. Prices have ranged between a low of $59.42 and a high of $60.50 during the session. For the week, crude oil prices have increased by 3.11%.

Original Source: Greg Michalowski of investinglive.com

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