Rigs targeting crude in America climb for a 22nd straight week Demand to rise during third quarter, United Arab Emirates says Oil traded near $45 a barrel following a fourth weekly loss as U.S. drillers continued to add rigs, blunting OPEC-led efforts to rebalance an oversupplied market. Futures were little changed in New York after capping the longest run of weekly declines since August 2015. U.S. drillers targeting crude added rigs for a 22nd straight week, the longest stretch in three decades, according to data Friday from Baker Hughes Inc. Demand will rise during the third quarter, United Arab Emirates Energy Minister Suhail Mohammed Al Mazrouei said. Oil slumped to the lowest close in seven months on Thursday amid concerns that rising U.S. supplies will offset output cuts by the Organization of Petroleum Exporting Countries and allies including Russia. OPEC and its partners have curtailed production in an attempt […]