Reported 27 days ago
U.S. energy companies have added oil and natural gas rigs for the third consecutive week, bringing the total count to 588, according to Baker Hughes. Despite the increase, the count remains down 5% from the previous year. Oil rigs rose to 481 and gas rigs to 101 as firms adapt to changing market conditions amid a cautious outlook for growth and ongoing cost-saving measures.
Source: YAHOO