US drillers add 10 oil rigs in week ending Jan. 25: Baker Hughes

U.S. energy companies added 10 oil rigs in the week ending Jan. 25, bringing the total count to 862, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

The natural gas rig count decreased by one rig to 197 rigs for the week, compared to 188 rigs a year earlier.

The U.S. rig count, an early indicator of future output, is still much higher than a year ago when 759 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.