U.S. drillers add oil rigs for second week in three: Baker Hughes | Reuters

U.S. drillers add oil rigs for second week in three: Baker Hughes | Reuters:

U.S. energy companies this week added oil rigs for the second time in the last three weeks even as new drilling has largely stalled since June due to pipeline constraints in the country’s biggest oilfield.

Drillers added seven oil rigs in the week to Sept. 14, the biggest weekly increase in a month, bringing the total count to 867, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday.

The U.S. rig count, an early indicator of future output, is higher than a year ago when 749 rigs were active as energy companies have been ramping up production in anticipation of higher prices in 2018 than previous years.