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U.S. Oil Drilling Shows Signs of Stalling Despite Price Rally

Bloomberg business news
How the Energy Crisis Is Impacting Commodity Prices

U.S. oil producers don’t appear to be responding to the price signal from the crude market -- at least that’s what the latest drill rig data implies.

Friday’s report from Baker Hughes Co. shows the number of oil rigs deployed in the country fell by 2 from a week earlier to 443. That snaps a run of six successive weekly gains.