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U.S. drillers leave oil rig count unchanged

Oil rig
Oil exploration   The U.S. rig count is higher than a year ago

U.S. energy companies this week added no oil rigs as the rate of growth has slowed over the past month or so with a decline in crude prices from late May through late June.


Oil rigs remained steady at 863 in the week to July 13, General Electric’s Baker said.

The U.S. rig count, an early indicator of future output, is higher than a year ago when 765 rigs were active as energy companies have ramped up production in anticipation of higher prices in 2018 than previous years.

 

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