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

Sanctions Pushed Russian Oil Revenues Lower in 2025

Sanctions from the European Union and the United States pressured Russian crude oil export revenues …

Leave a Reply

Your email address will not be published.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