U.S. oil rigs up by four, stockpiles of crude down unexpectedlyStaff Writer | November 24, 2016
The number of oil rigs in operation in the U.S. climbed for a fourth consecutive week as crude oil futures held their ground.
Oil exploration Onshore oil rigs in operation increased to 474
Stockpiles of crude oil in the U.S. shrank unexpectedly during the latest reference week, albeit alongside a large drop in purchases from overseas.
Commercial crude oil inventories dropped by 1.3m barrels a day during the week ending on November 18, according to the Energy Information Administration, the U.S. Department of Energy's statistical arm. ■