Drillers Extend Revival as Oil Trades Near 17-Month High
An American flag flies at a refinery in Kentucky
Luke Sharrett/BloombergThis article is for subscribers only.
Oil explorers added rigs for the eighth straight week, extending a ramp-up of activity in the U.S. shale patch as prices hover near $53 a barrel.
Rigs targeting crude in the U.S. rose by 13 to 523 this week, Baker Hughes Inc. said Friday. Drillers have added 207 rigs since the count hit a seven-year low on May 27.