U.S. drillers add oil rigs for fourth week in five
Staff Writer |
U.S. energy firms added oil rigs for a fourth time in the last five, keeping the rig count at its highest in over three years even though crude futures were on track to fall for a fifth week in a row to their lowest level since February.
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Drillers added 12 oil rigs in the week to Nov. 9, bringing the total count to 886, the highest level since March 2015, General Electric’s Baker Hughes said.
That was the biggest weekly increase since late May when drillers added 15 rigs. ■