Baker Hughes reported the US oil rig count rose to 445 for the week ending July 2, up five from 440, marking a modest uptick reported Friday while remaining well below the 2019 peak of 800 rigs and the 2023 average of 620. The total US active oil rig count increased by 5 to reach 445. The overall U.S. drilling rig count'which includes 126 gas rigs and 9 miscellaneous rigs'rose by 7 to a total of 580.

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