U.S. Oil Rig Count Climbs to Highest in Almost Two Years

14 Apr 2017   Shale Oil

U.S. crude production will likely rise in the months ahead as explorers added rigs for a 13th week, capping the longest stretch of gains since 2011. Rigs targeting crude rose by 11 to 683 this week, the highest level since April 2015, according to Baker Hughes Inc. data released Thursday. The number of wells drilled has more than doubled since tumbling to 316 in May.

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