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U.S. drillers add oil rigs for second week in a row

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Staff Writer | December 28, 2018
Oil drillers
America   For the month the rig count fell by 2

U.S. energy firms added oil rigs for a second week in a row even as oil prices fell to 1-1/2-year lows and headed for losses of more than 20 percent this year.

Drillers added 2 oil rigs in the week to Dec. 28, bringing the total count to 885, General Electric’s Baker Hughes said.

For the month the rig count fell by 2, its first decline in six months. But for the quarter, the count was up 26, the fourth increase in a row.

For the year the count was up 138. That compares with an increase of 222 rigs in 2017 and a decline of 11 rigs in 2016.


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