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U.S. oil rig count up to 750

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Staff Writer | September 29, 2017
oil rig count up
Oil exploration   Baker Hughes

U.S. energy companies added oil rigs for the first week in seven after a 14-month drilling recovery stalled in August.

Drillers added six oil rigs in the week to September 29, bringing the total count up to 750, General Electric’s Baker Hughes said.

The rig count, an early indicator of future output, is still higher than the 425 active oil rigs a year ago as energy companies pursued ambitious spending programs for 2017.

For the month of September, the rig count fell by nine, after dropping by seven in August.

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