Baker Hughes Reports a Second Weekly Increase in the U.S. Oil-Rig Count

Baker Hughes BKR, -0.86% on Friday reported that the number of active U.S. rigs drilling for oil rose by 6 to 189 this week. The increase followed an increase of 4 oil rigs in the previous week. The total active U.S. rig count, meanwhile, was up 5 to 266, according to Baker Hughes. November West Texas Intermediate crude CLX20, -4.46% continued to trade lower following the data, losing $1.39, or 3.6%, at $37.33 a barrel on the New York Mercantile Exchange.

About Parvin Faghfouri Azar

Check Also

OPEC Holds Firm on Bullish Oil Demand Outlook for 2026

Global oil demand will rise by about 1.4 million barrels per day (bpd) next year, …

Leave a Reply

Your email address will not be published. Required fields are marked *