INTERACTIVE: US oil rig count marks largest weekly gain in month

Source: ICIS News


HOUSTON (ICIS)--US drillers boosted the oil rig count by 7 in the week ended 14 September, oilfield services firm Baker Hughes said in its Friday report.

The jump was the second increase in the last three weeks. It was the largest increase since the 10-count gain in the week ended 10 August.

Year on year, the US oil rig count rose by 118, as companies continue to ramp up production on expectations of higher prices in 2018.

Crude futures were up on pre-weekend bargain hunting following recent steep losses.

US gas and miscellaneous rig counts were flat week on week.