04222018Sun
Last updateFri, 20 Apr 2018 5pm

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End-User News

U.S. Energy Firms Add Rigs for 22nd Consecutive Week

“U.S. energy firms added oil rigs for a record 22nd week in a row in a year-long drilling recovery but the pace of those additions has slowed in recent months as crude prices dropped to 2017 lows despite OPEC-led efforts to end a global supply glut,” Reuters reports.

According to Baker Hughes, “[d]rillers added six oil rigs in the week to June 16, bringing the total count up to 747, the most since April 2015.” 

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