Economics
Oil Drillers Bring Back Rigs in Longest Streak Since 2014
- Rigs targeting crude in Permian up by 12 to 189: Baker Hughes
- U.S. explorers add oil rigs for seventh week in a row
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U.S. oil producers added rigs for the seventh week in a row, the longest period of expansion since the final days of the drilling boom in early 2014.
Rigs targeting crude in the U.S. rose by 15 to 396, after seven were added last week, Baker Hughes Inc. said on its website Friday. Explorers have now added 66 rigs since June 24, led by rising activity in the Permian Basin in West Texas.