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U.S. drillers add oil rigs for 10th week

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Staff Writer | January 6, 2017
U.S. energy companies this week added oil rigs for a tenth week in a row.
Oil rig count
Oil exploration   Drillers added four oil rigs
This is extending the drilling recovery into an eighth month as crude prices remained near an 18-month high.

Drillers added four oil rigs in the week to January 6, bringing the total count up to 529, the most since December 2015, energy services firm Baker Hughes.

That was the first time the current rig count topped the year ago level since January 2015. A year ago, there were 516 active oil rigs.

It was also drillers longest weekly streak of adding rigs since August 2011.