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U.S. energy firms this week added oil and natural gas rigs for a second week in a row, in a record 23-month streak of increases, as high crude prices and prodding by the government prompted drillers to return to the wellpad.
The total oil and gas rig count, an early indicator of future output, rose 13 to 753 in the week to June 24, its highest since March 2020.
U.S. oil rigs rose 10 to 594 this week, their highest since March 2020, while gas rigs gained three to 157, their highest since September 2019.
That put the overall oil and gas rig count up for a record 23 months in a row, gaining 26 in June. It also put the count up for seven quarters in a row, the longest streak of gains since 2011.
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