US oil rig count climbs for 4th straight week

The count of active oil rigs in the US rose again this week, by eight to 591, according to Baker Hughes. 
The count, up for a fourth straight week, is more than 80% higher than the low reached in May 2016. The tally is at its highest level since the week of October 23, 2015.
Four gas rigs came online, taking the total to 149. With one miscellaneous rig remaining in use, the total rig count was up 12 to 741. 
Oil drilling has increased as oil prices have recovered after the plunge