U.S. oil rig count climbs by 7, Baker Hughes saysStaff Writer | September 9, 2016
U.S. drillers this week added oil rigs for a tenth week in the past 11, according to a Baker Hughes, the longest streak of not cutting rigs since 2011.
Oil exploration Up from the recent bottom of 316 rigs in May
Drillers added seven oil rigs in the week to Sept. 9, bringing the total rig count up to 414, energy services firm Baker Hughes Inc said.
That is well below the 652 oil rigs active during the same week a year ago, but is up from the recent bottom of 316 rigs seen in May. ■