American energy companies increase the number of oil and gas rigs for the third week in a row, with the continued increase in demand for energy.
US energy companies increased the number of oil and gas rigs for the third week in a row, as demand for energy continued to increase after the Corona virus destroyed demand last year.
Baker Hughes Energy Services said, “The number of oil and gas rigs in the United States increased by 7 to 586 in the week ending December 23, the highest level since April 2020, and is an early indication of future production. “.
Although the rig count has been rising for 16 months in a row, analysts noted, “Oil production is still expected to decline in 2021, as energy companies continue to focus more on returning funds to investors rather than increasing production.”
The number of operating US oil rigs increased by 5 to 480 this week, while the number of gas rigs increased by 2 to 106.
This comes despite US diplomatic cables stating that “President Joe Biden’s administration… Government agencies are ordered to immediately stop funding new fossil fuel projectscarbon-intensive overseas, and prioritizing global cooperation to deploy clean energy technology.
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