US Oil, Gas Drillers Hang Back in Volatile Market
AI Summary
The number of active oil and gas drilling rigs in the US has increased slightly, with the total reaching 581, up from 537 a year ago, though the pace is cautious amid market volatility. The oil rig count stands at 445, a modest rise of 21 from the previous year, while gas rigs remain steady at 126, up by 18. This cautious approach reflects the industry's response to fluctuating market conditions, indicating a hesitancy to fully commit to new drilling projects despite the uptick in rig numbers.
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