Oil rig count climbs for a 2nd straight week
The number of gas rigs fell by 1 to 88, and miscellaneous rigs were unchanged at 1, taking the total up 9 to 440.Last week, the oil-rig count jumped by the most in six months. It climbed by 11, as the gas rig count also fell by 1, taking the total up by 10. Advertisement
The increase in oil rigs last week was driven by a rise in the more efficient horizontal rigs, as well as in vertical rigs, amid a small decline in directional rigs.
Crude oil prices slipped to a two-month low on Thursday after data from the Energy Information Administration showed that inventories fell last week by less than analysts had estimated.Ahead of the rig-count data on Friday, West Texas Intermediate crude futures in New York are up 0.4% to $45.33 per barrel.
Here's the latest chart of oil rigs:
Andy Kiersz/Business Insider
- Tripura woman kills self after COVID-19 test; result comes out positive
- Tata Tele Maharashtra Q4 losses at Rs 874 cr
- Covid-19 to push 64% Indian firms adopt cloud computing: IDC
- Nine coronavirus cases reported in Puducherry, tally rises to 82
- Maha: Four-month-old tests positive for COVID-19 in Amravati