KRED

Friday, April 21, 2017

US oil-rig count increases to a nearly two-year high

http://ift.tt/2pafmDb

Oil rig

The US oil-rig count rose by five to 688, according to oilfield-services provider Baker Hughes, marking the 14th week in a row with an increase. Gas rigs rose by five to 167 and miscellaneous rigs remained unchanged at two, leaving the total rotary rig count at 857.

The oil rig count was at its highest level since the week ending April 24, 2015.

As of about 1:07 PM eastern time, the US benchmark West Texas Intermediate crude oil was down about 1.9% to a price of $49.32 per barrel.

Last week, the oil-rig count rose by 11, gas rigs fell by three, and miscellaneous rigs were unchanged at two. 

Here’s how the oil-rig count has changed over the last several years:

4 21 17 oil rigs

 

 

SEE ALSO: Here’s the most disproportionately popular job in every state

Join the conversation about this story »

NOW WATCH: The disturbing reason some people turn red when they drink alcohol

clusterstock?d=yIl2AUoC8zA clusterstock?i=pZEVIQPo1z8:BDlpB1kd5E4:F clusterstock?i=pZEVIQPo1z8:BDlpB1kd5E4:V clusterstock?i=pZEVIQPo1z8:BDlpB1kd5E4:g clusterstock?d=cGdyc7Q-1BI clusterstock?d=QXVau8BzmBE

April 21, 2017 at 10:13PM

http://ift.tt/2oZHoSW

from Andy Kiersz

http://ift.tt/2oZHoSW