The decline in drilling rigs defied a strong week for oil prices, pushed higher Wednesday...
A drilling rig operates as the sun dips in the sky near Pecos. Finding workers with digital and technical skills for the Permian Basin is difficult.Texas lost three oil rigs this week despite a rally in crude prices driven by strengthening gasoline demand.
The U.S. rig count fell by one to 762 this week as the addition of two rigs in New Mexico offset the decline in Texas, according to oil field services company Baker Hughes. Still, oil and gas companies in the U.S. have added 259 rigs in the past year, a 51 percent increase from the 503 operating at this time last year.The decline in drilling rigs defied a strong week for oil prices, pushed higher Wednesday after Energy Department data reversed a downward trend in gasoline demand.
Gasoline demand rose 2 percent last week, the Energy Department said this week, lifting fuel demand above the same week last year. [email protected]
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