U.S. Oil-Rig Count Grows by 12 in Latest Week, Baker Hughes Says
11 Dezember 2020 - 7:48PM
Dow Jones News
By Dave Sebastian
The number of rigs drilling for oil in the U.S. increased by 12
in the latest week to 258, according to oil-field services firm
Baker Hughes.
The week's count was lower by 409 from the same period last
year, Baker Hughes said Friday.
The gas-rig count in the U.S. rose by four to 79 from the prior
week, and was down by 50 from the year-ago period, the company
said.
The U.S. offshore-rig count stayed at 13, and was 10 lower from
a year ago.
The U.S. oil-rig count is viewed as a proxy for activity in the
sector. The metric last peaked at 1,609 in October 2014. It hit its
most recent minimum of 172 in mid-August.
Global oil benchmark Brent crude was lower Friday at $50.03 a
barrel. West Texas Intermediate crude, the U.S. price benchmark,
traded at $46.61 a barrel.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
December 11, 2020 13:33 ET (18:33 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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