U.S. drillers add oil rigs for first time in three weeksStaff Writer | August 31, 2018
U.S. energy companies added oil rigs for the first time in three weeks, Baker Hughes reported on Friday, while the rig count inched up this month as drilling steadied over the last three months.
Oil exploration Drillers added two oil rigs in the week to Aug. 31
The oil rig count rose by one in August after gaining three rigs in July and losing one in June.
The U.S. rig count, an early indicator of future output, is much higher than a year ago when 759 rigs were active. Energy companies have been ramping up production in tandem with OPEC’s efforts over the past year-and-a-half to cut global output. ■