Baker Hughes reports a 4th weekly rise in a row for U.S. oil-drilling rigs


Baker Hughes BKR, -5.77% on Friday reported that the number of active U.S. rigs drilling for oil rose by seven to 461 this week. That followed increases in each of the previous three weeks, including a climb of four oil rigs last week, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, also climbed by seven to stand at 563, according to Baker Hughes. Oil prices continued to trade sharply lower on concerns that Europe’s rise in COVID cases will hurt energy demand. December West Texas Intermediate crude CLZ21, -3.67% was down $2.77, or 3.5%, at $76.24 a barrel on the New York Mercantile Exchange.

This article was originally published by Read the original article here.

Previous articleOutside the Box: Your retirement plan can’t deliver financial certainty — here’s how to think about the big risk factors
Next articleWeekend Sip: Why Arby’s is partnering with a Wisconsin distillery


Please enter your comment!
Please enter your name here