U.S. oil rig count rises by 19, biggest jump in 5 monthsStaff Writer | November 18, 2016
Baker Hughes reported the largest weekly rise in its count of oil rigs operating in U.S. fields since a recovery began at the end of June.
Oil exploration Crude prices stabilized
Last week, the tally of oil rigs increased by two. As crude prices stabilized in a price range between $40 and $50 per barrel earlier this year, demand for oilfield services increased. ■