US Oil Drilling Registers Biggest Downturn in Months

摘要

The number of active drilling rigs targeting oil in the US fell for the third time in the last five weeks, according to data from oil-field services provider Baker Hughes, sending the clearest signal yet that the latest domestic drilling boom has reached a ceiling. Baker Hughes data show that the US oil rig count fell by five to 763 during the week ended Aug. 18. It marks the largest weekly downturn since January and effectively unwinds the small, sputtering increases made over the last six weeks in between small incremental declines (OD Aug.7’17).