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US rig count rises as drillers add oil rigs for 7th week in a row

December 19, 2016

U.S. energy companies this week added oil rigs for a seventh week in a row, extending a seven-month drilling recovery as crude prices held near a 17-month high.

Drillers added 12 oil rigs in the week to Dec. 16, bringing the total count to 510, the highest since January, but still below 541 rigs a year ago, energy services firm Baker Hughes Inc said on Friday.

In Canada, the rig count rose by four, ending the week at 234.

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