Slight rebound for new drilling as crude oil prices get comfortable in the mid-$40s
Saturday, July 23, 2016
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