U.S. oil drillers increased rigs this week for a 21th week in the last 24, as energy firms follow through on plans to add rigs made months ago when crude was still trading over the key $50 a barrel level analysts said should lead to more drilling. Drillers added two oil rigs in the week to Nov. 11, bringing the total count up to 452, the most since February, but still below the 574 rigs seen a year ago, energy services firm Baker Hughes Inc said on Friday. Since crude topped $50 a barrel in May, June and October, drillers have added 136 oil rigs, its biggest recovery in over two years since prices collapsed due to a global oil glut. The Baker Hughes oil […]

Posted in: USA