U.S. oil rigs hit their highest level since April 2015 while crude futures suffered their biggest weekly drop since January 2016 amid renewed oversupply concerns.
Baker Hughes (BHGE) said rigs in operation rose by 26 to 791 as the Permian Basin saw its tally rise by 10 to 437. Rigs rose by three in the Eagle Ford shale play.
Supply worries were ignited anew after the Energy Information Administr…
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What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]