Oil Explorers Expand U.S. Drilling as OPEC Prepares to Talk Cuts
- Futures hurtling toward steepest monthly plunge in 10 years
- Saudis, Russians poised to discuss 2019 supply trajectory
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Oil explorers expanded drilling in American fields as OPEC and allied crude exporters prepared to discuss production controls and cratering prices.
Working oil rigs in the U.S. rose by two this week to 887, according to data released Friday by Baker Hughes. More than 125 additional rigs have been deployed this year as drillers sought to maximize output from the Permian Basin and other shale regions.