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U.S. Rig count drops

Xinhua,December 30, 2017 Adjust font size:

HOUSTON, Dec. 29 (Xinhua) -- The U.S. rig count fell two this week, despite oil prices reaching 60 U.S. dollars a barrel, according to weekly data collected by Baker Hughes released on Friday.

Houston oilfield services company Baker Hughes reported that oil rigs stayed steady this week at 747, but gas drillers fell two to 182. The total has slipped to 929, 29 off its recent peak of 958, at the end of July.

Still, the count has risen 271 over this time last year, with oil rigs up 222, gas 50.

The U.S. offshore count is down one since last week to 18, a drop of five year-over-year.

U.S. oil prices settled above 60 U.S. dollars a barrel on Friday for the first time since late June 2015, finishing the year 41 percent higher than its lowest point earlier this year.

The price rose 58 cents to 60.42 dollars a barrel in New York on Friday, propelled by Energy Department data showing U.S. crude inventories fell 4.6 million barrels last week. Enditem