The United States added just three oil rigs this week despite crude oil prices soaring. The total number of oil rigs in the U.S. ticked up from 549 to 552, data from the oil and gas services company Baker-Hughes showed.
The total number of oil rigs in the U.S. ticked up from 549 to 552, data from the oil and gas services company Baker-Hughes showed on Friday.
The Permian Basin in west Texas, where new production is thought to be most likely to arise, added just one rig after flatlining for the two prior weeks. The Biden administration has said it wants more domestic oil production but until very recently it was refusing to auction new leases for federal land. Even as the administration announced the move, however, it made clear that it had contempt for fossil fuel companies and regarded them as dangers to the public good.