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U.S. oil rig count ends 2017 40 percent above year-ago levels

Staff Writer |
The U.S. oil rig count rose by about 42 percent by end-2017 compared to the corresponding period last year.

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Drillers held the number of oil rigs steady for a second straight week at 747 in the week to Dec. 29. That was 222 more than the 525 rigs at the end of 2016, General Electric's Baker Hughes said.

The oil rig count, an early indicator of future output, remained unchanged in December after rising by 10 in November. It declined by 3 in the fourth quarter after falling by 6 in the third quarter.


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