U.S. oil-rig count climbs for 15th straight week
The rise demonstrated again that explorers continue to take advantage of higher oil prices. Schlumberger and Halliburton — the two largest oilfield-services companies — this week reported first-quarter earnings that showed stronger demand.
As a whole, the energy sector is expected to be the biggest contributor to year-over-year S&P 500 earnings growth.
Gas rigs increased by four to 171. With miscellaneous rigs unchanged at two, the total rig count rose by 13 to 870. ■