The number of active drilling rigs in the US rose 57% year-over-year in April, according to energy consultancy Baker Hughes, continuing a steady rise from the late summer of 2020 when the count fell to around 250 active rigs.
There are 673 rigs active in the United States at this moment, up from 430 one year ago, an increase driven largely by new drilling in the shale-rich Permian basin where there 99 new rigs.
The rise comes as president Joe Biden has repeatedly pressured oil producers to raise production, accusing the companies of sitting on record profits whole consumers suffer. Biden’s popularity has been suffering with a disapproval rating of 53% as gasoline prices have soared to 40-year record highs.
According to Baker Hughes the peak US rig count since 2020 was in 2012 when over 2000 rigs were active.