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Last Week: U.S. Drillers Add Oil and Gas Rigs for First Time in Four Weeks

The oil and gas rig count, an early indicator of future output, rose by three to 779 in the week to Dec. 22.

Baker Hughes released the report a day early due to the upcoming Christmas holiday weekend.

Baker Hughes said that puts the total rig count up 193 rigs, or 33%, over this time last year.

U.S. oil rigs rose by two to 622 this week, while gas rigs rose one to 155.

U.S. oil futures were up about 3% so far this year after soaring 55%

Last Week: U.S. Drillers Add Oil and Gas Rigs for First Time in Four Weeks