The number of oil rigs operating in the U.S. was unchanged from a week ago despite the price of oil rising to its highest level since 2008.
Friday’s report from Baker Hughes Co. shows the number of oil rigs in the country held steady at 650. Two weeks ago, the number of rigs climbed by 10, last week it climbed by five, and this week not at all. Continue reading “U.S. Rig Count Frozen Despite 14-Year High Oil Prices”