U.S. rig count grows 42% in 2017 vs. 3% for rest of the world

U.S. energy producers haven’t let declining crude prices stop them from increasing their capacity as oil prices fail to find support above $50 per barrel. As of June 16, the total rig count in the U.S. as estimated by Baker Hughes was 933 total rigs; 747 producing crude oil and 186 producing natural gas. The total number of rigs is up 42% from the end of 2015, and is growing on a quarter-over-quarter basis at an average rate of 24%.