U.S. oil rig count rises for 7th straight weekStaff Writer | March 3, 2017
The US oil-rig count rose by seven to 609 this week, according to Baker Hughes.
Oil exploration At 502 million barrels
Last week the tally of oil rigs rose by six. Data from the Energy Information Administration on Wednesday showed that inventories rose for an eighth straight week, by 1.5 million barrels.
At 502 million barrels, U.S. oil inventories are at the higher end of the average range for this time of year, the EIA said. ■