Oil rig count increased by 9Staff Writer | November 4, 2016
The US oil-rig count climbed by nine to 450 this week, according to oilfield-services company Baker Hughes.
Oil exploration There are 112 fewer active oil rigs
The rebound during those months — the longest streak since the oil crash — was small compared to the plunge that preceded it. There are 112 fewer active oil rigs compared to a year ago.
Hopes of a recovery, or at least a stabilization of prices in the $40-$50 per barrel range, raised demand for drillers' services in recent months. ■