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US oil rigs rise to 2M high

US oil rigs rise to 2M high

Mubasher: The number of active oil drilling rigs in the United States rose this week for the first time in four weeks, data released by Baker Hughes showed.

Oil rigs count in the week ending 12 October rose by 8 to a total of 869, recording the biggest increase since mid-August.

In the same period last year, rig count stood at 743 rigs, which shows the continuous rise in American crude production.