Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 246—the highest number of rigs since mid-May. The total number of active oil and gas rigs increased for the week by 3, with oil rigs increasing by 5 and gas rigs falling by 2. Miscellaneous rigs stayed the same at 2. Total oil and gas rigs in the United States are now down by 476 compared to this time last year. The EIA’s estimate for oil production in the United States is now at 11.1 million barrels of oil per day as of the most recent reporting…
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