The US rig count rose for the seventh straight week, according to the Baker Hughes weekly rig count report released on Friday.
The report reflect industry sentiment as a number of energy companies, including Exxon Mobil, have said they expect to increase drilling activity to take advantage of rising crude oil prices.
In the United States, seven new oil rigs were added in the week ending March 3, bringing the total oil rig count to 609. That number is up significantly from this time last year when there were 392 rigs operational.
