Oil rig count rises for 3rd straight week (USO, WTI, OIL, VDE, BHI)
|09/16/2016||Posted by BusinessMediaguide.Com under General World News||
The number of active US oil rigs this week rose by two to 416, the highest level since early February, according to oilfields-services giant Baker Hughes.
The tally of gas rigs fell by three to 89, and miscellaneous rigs fell by one, taking the total count down two to 506.
Last week, the oil rig count rose by seven. The gas-rig count increased by four, and miscellaneous rigs were unchanged at two.
The oil-rig count has climbed in 11 out of the last 12 weeks.
Analysts have cited the recent gain in the oil-rig count as one sign that the read more >>>