US drillers add 7 oil rigs in week ending Feb. 8: Baker Hughes

U.S. energy companies added seven oil rigs in the week ending Feb. 8, bringing the total count to 854, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

The natural gas rig count decreased by three rigs to 195 rigs for the week, compared to 184 rigs a year earlier.

The U.S. rig count, an early indicator of future output, is still higher than a year ago when 791 rigs were active after energy companies boosted spending in 2018 to capture higher prices that year.