US drillers add 8 oil rigs in week ending Oct. 12: Baker Hughes

U.S. energy companies added eight oil rigs in the week ending Oct.12, bringing the total count to 869, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

The natural gas rig count rose by four rigs to 193 for the week, compared to 185 rigs a year earlier.

The U.S. rig count, an early indicator of future output, is higher than a year ago when 743 rigs were active because energy companies have ramped up production to capture prices that are higher in 2018 than 2017.