U.S. Baker Hughes Oil Rig Count +7 To 452 Vs 446 Est.; U.S. Baker Hughes NatGas Rig Count Unchanged At 126; U.S. Baker Hughes Total Rig Count 588 Vs 581 Prior
Why It Matters
Oil and gas companies are drilling a little more this week—seven extra oil rigs are running now. When companies drill more, it usually means they think energy prices are good enough to make money, so it's a small sign of confidence in that industry.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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