US Drillers Add Oil Rigs For Fifth Straight Month

U.S. energy firms this week added oil rigs for a third week in four and increased the rig count for the fifth month in a row, even though oil prices this week fell to their lowest since October 2017.

Drillers added two oil rigs in the week to Nov. 30, bringing the total count to 887, Baker Hughes, a GE company (NYSE: BHGE) said in its weekly report.

For the month, the rig count was up 12 in November, matching October and its fifth monthly increase in a row.