Oil rig count climbs for 8th straight week
Advertisement
Reuters
Advertisement
That's the highest level since February 19, 2016.
The gas rig count was unchanged at 83, and the total rig count gained 10 to 491.
Last week, the oil rig count last week jumped by 15.
Producers have been bringing rigs back online amid a recovery in oil prices.
Advertisement
On Thursday, West Texas Intermediate crude reentered a bull market, having gained 22% since it bottomed below $40 per barrel early in August.
On Friday, WTI futures were little changed ahead of the rig count data, up 0.1% to $48.27 in New York.
Here's the latest chart showing the oil rig count:
Advertisement
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- BenQ Zowie XL2546X review – Monitor for the serious gamers
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?