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U.S. oil drilling rig count holds steady

Staff Writer |
U.S. energy companies kept the oil rig count unchanged this week, General Electric’s Baker Hughes said.

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The rig count, an early indicator of future output, held at 747 in the week to December 22.

This is still much higher than a year ago when only 523 rigs were active after energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash. ■

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