US oil drillers add rigs for second time in 2016


NEW YORK: US energy firms have added rigs drilling for oil for the second time this year, energy services company Baker Hughes Inc said, after crude prices briefly tested a seven-month high over US$50 a barrel over the past weeks.

That is a key price level that analysts and producers have said would likely trigger a return to the well pad.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Baker Hughes , rigs , US energy firms

   

Next In Business News

Farm Price IPO oversubscribed by 91.35 times
Wall St set to open sharply higher on soft jobs data
US job growth slows in April; unemployment rate rises to 3.9%
HSBC has no plans to dispose of further businesses, Chairman says
MJets Air inks aircraft charter agreement with Teleport
Ringgit extends gains to end higher against US dollar
S P Setia to launch Nadi 2, Setia Commerce Square in Setia EcoHill 2, Semenyih this weekend
Farm Price IPO oversubscribed by 91.35 times
XOX to undertake RM303mil capital reduction
Uzma bags contract from Sarawak Shell

Others Also Read