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The number of oil rigs in the United States fell for the third week in a row, and although crude prices reached a four-year high this week, rising costs and pipeline bottlenecks in the largest U.
S.
oil field hindered new drilling
since June, Reuters reported on October 6.
Baker Hughes Energy Services said in the report that drillers cut two oil rigs this week through Oct.
5, bringing the total to 861
.
The number of rigs in the U.
S.
is an early indicator of future production, and this year's number is higher than a year ago (748 rigs were active last year), however, the number of rigs has stagnated
around 860 since June.
More than half of U.
S.
oil rigs are located in the Permian,
the country's largest shale oil formation.
Active rigs in the area reportedly fell by one this week to 485
.
12Next View full article
The number of oil rigs in the United States fell for the third week in a row, and although crude prices reached a four-year high this week, rising costs and pipeline bottlenecks in the largest U.
S.
oil field hindered new drilling
since June, Reuters reported on October 6.
Baker Hughes Energy Services said in the report that drillers cut two oil rigs this week through Oct.
5, bringing the total to 861
.
5, bringing the total to 861
.
The number of rigs in the U.
S.
is an early indicator of future production, and this year's number is higher than a year ago (748 rigs were active last year), however, the number of rigs has stagnated
around 860 since June.
S.
is an early indicator of future production, and this year's number is higher than a year ago (748 rigs were active last year), however, the number of rigs has stagnated
around 860 since June.
More than half of U.
S.
oil rigs are located in the Permian,
the country's largest shale oil formation.
Active rigs in the area reportedly fell by one this week to 485
.
12Next View full article
More than half of U. S.
oil rigs are located in the Permian,
the country's largest shale oil formation.
Active rigs in the area reportedly fell by one this week to 485
.
12Next View full article
12Next View full article
12Next View full article
