Baker Hughes, one of the world’s largest oil field services companies, said the number of oil rigs fell by six to 386 last week, the lowest level since 2009, while the natural-gas rig count dropped by three to 94, the lowest since 1987.
On Friday, the Paris-based International Energy Agency said there are signs that oil prices passed their lowest point at 28.50 U.S. dollars per barrel in mid-January. Brent crude, the global benchmark, has since then risen to around 40 dollars a barrel, spurred in large part by declining output across America’s energy patch.
Recently, U.S. crude increased by 2.3 percent to 38.7 dollars a barrel on the New York Mercantile Exchange. Enditem
Source: Xinhua
