Slight rebound for new drilling as crude oil prices get comfortable in the mid-$40s

Saturday, July 23, 2016

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It's not a rebound, but figures released on Friday show that new drilling is picking up in the Lone Star State as crude oil prices get comfortable in the mid-$40-per-barrel range.

After flirting above the $50 per-barrel mark a couple of times, West Texas Intermediate crude has been seesawing in the mid and upper $40 per-barrel range for the past three week. Figures from the Baker Hughes Rig Count released on Friday show a slight uptick and that Texas made up all the gains in new drilling activity for the United States.  READ MORE...

Category: Oil & Gas