Drillers Hike Up Rig Activity Again as Crude Production Soars
- Rig count in U.S. oil fields advances to three-year high
- Explorers ramping up spending on back of crude-price rebound
U.S. Crude Exports Hit a Record Last Week
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Shale explorers boosted drilling activity in the U.S. oil patch to the highest in three years even as American crude output touched unprecedented levels.
U.S. working oil rigs rose by 11 this week to 808, the highest since March 2015, according to data from Baker Hughes. It’s the ninth increase in the past 11 weeks.