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U.S. drillers add oil rigs for third week in four: Baker Hughes

(Reuters) – U.S. energy firms added oil rigs for the third time in four weeks even though producers planned to continue reducing spending on new drilling for a second consecutive year in 2020.

Pump jacks operate at sunset in Midland, Texas U.S. February 11, 2019. Picture taken February 11, 2019. REUTERS/Nick Oxford

Companies added 1 oil rig in the week to Feb. 7, bringing the total count to 676, energy services firm Baker Hughes Co BRK.N said in its closely followed report on Friday.

U.S. drillers add oil rigs for third week in four: Baker Hughes