Oil and gas rig count up more than 50% since last year

The number of active oil and natural gas drilling rigs in the United States rose by four this week and 272, or 56%, in the past year to the highest point since March 2020, an increase that comes even as oil demand — and by extension, gas prices — has abated slightly since last month.

The new numbers bring the total U.S. rig count up to 756, according to data published by Baker Hughes on Friday.