The rig count in the Permian Basin was up one this week, the latest count Friday by Baker Hughes shows, with 268 rigs active in the region. A year ago, 254 rigs were active in the region.

Nationally, the oil and gas rig count is unchanged from last week at 588 rigs. A year ago, 537 rigs were active. The count shows that 449 rigs sought oil, up two from the previous week, and 130 explored for natural gas, down two from the previous week. The count also shows nine miscellaneous rigs, unchanged from the previous week.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in August of 2020 at 244.

The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $87.96 per barrel, up $8.08 from last Friday's close. National benchmark West Texas Intermediate crude ended at $91.48 per barrel, up $8.08 from the previous week.

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