US oil producers continued to tentatively return to the drill pad this past week, although ongoing volatility in crude markets could yet derail any kind of sustained comeback. Data from oil-field services provider Baker Hughes show that the US oil rig count increased by six during the week ended Jul. 15 to a total of 357. US operators have now added oil rigs in six out of the last seven weeks, during which the oil rig count has risen by just over 40 rigs -- a relative drop in the pond considering that nearly 1,300 oil rigs, or roughly 80%, had been laid down since peaking above 1,600 in October 2014.
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