Oil Producers in U.S. Add to Rig Fleet for a Fifth Week: ChartBy
U.S. oil producers are continuing to return to the shale patch. Rigs targeting crude capped their first five-week gain since August, rising by 3 to 374 in the period ended July 29, according to Baker Hughes Inc. data released Friday. Prices have climbed from a 12-year low in February, prompting American firms to expand drilling after idling more than 1,000 oil rigs since the start of last year.
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