U.S. drillers add oil rigs for first week since June, says Baker HughesChristian Fernsby ▼ | August 16, 2019
U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks.
America Companies added six oil rigs in the week
Topics: U.S. oil
In the same week a year ago, there were 869 active rigs.
The oil rig count, an early indicator of future output, has declined over the past eight months as independent exploration and production companies cut spending on new drilling as they focus more on earnings growth instead of increased output. ■