US Drillers Add Rigs for 5th Week in a Row
U.S. energy firms added two oil rigs this week, the fifth week of increases in a row, after U.S. crude prices have fallen about a third from recent highs, data showed on Friday, a sign drillers remain undeterred by low prices.
Reflecting plans announced in May and June, when U.S. crude futures averaged $60 a barrel, drillers added two oil rigs in the week ended Aug. 21, bringing the total count up to 674, the highest since early May, oil services company Baker Hughes Inc said in its closely followed report.
(Reporting By Jessica Resnick-Ault; Editing by Marguerita Choy)
