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U.S. rig count rises to 553

Xinhua, October 22, 2016 Adjust font size:

The number of rig count in the United States rose by 14 to 553 this week, up from a low point of 404 in May, according to data released by Houston-based oil field services Baker Hughes on Friday.

The current oil rig count has climbed by 11 to 443 while the gas rigs increased by 3 to 108. The number of offshore rigs remained the the same at 23.

The rise in the rig count is the fifth increase in a row and the 17th in the past 20 weeks.

In Texas, the second-largest state and one of the main energy-producing regions in the nation, the number of active rigs increased by 10 to 253, all of which are in the Permian Basin in western Texas. Endi