U.S. oil rig count holds steady this weekStaff Writer | August 17, 2018
U.S. energy companies kept the oil rig count unchanged this week amid a steady decline in crude prices, which hit a near two-month low earlier this week.
Oil exploration The rig count held at 869
The U.S. rig count, an early indicator of future output, is much higher than a year ago when 763 rigs were active as energy companies have been ramping up production in tandem with OPEC’s efforts since the start of 2017 to cut global output. ■