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Oil rig count increased by 9

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Staff Writer | November 4, 2016
The US oil-rig count climbed by nine to 450 this week, according to oilfield-services company Baker Hughes.
Oil rig count
Oil exploration   There are 112 fewer active oil rigs
Last week, the oil rig count fell for the first time in four months, by two to 441.

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.