U.S. drillers add oil rigs for second consecutive week
Article continues below
Drillers added 6 oil rigs in the week to February 2, bringing the total count up to 765, the highest level since August 2017, General Electric’s Baker Hughes said.
The U.S. rig count, an early indicator of future output, is much higher than a year ago when 583 rigs were active after energy companies started to boost spending in mid-2016 as crude were recovering from a two-year price crash. ■