avatar

U.S. drillers add the most oil rigs in a week since June: Baker Hughes

November 13, 2017 by Abhilasha Fullonton

(Source: Reuters) U.S. energy companies added the most oil drilling rigs in week since June as crude prices traded up to their highest levels since the summer of 2015. Drillers added nine oil rigs in the week to Nov. 10, bringing the total count up to 738, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. The rig count, an early indicator of future output, is still much higher than a year ago when only 452 rigs were active after energy companies boosted spending plans for 2017 in the second half of last year as crude started recovering from a two-year price crash. Read full article…

  • Facebook
  • Google
  • LinkedIn
  • Twitter
  • Email