Drillers added 10 oil rigs in the week to July 8, bringing the total rig count up to 351, compared with 645 a year ago, energy services firm Baker Hughes said.
Before this week, drillers added oil rigs in only five out of 26 weeks this year, cutting on average eight rigs per week for a total of 195. Last year, they cut 18 rigs per week on average for a total of 963, the biggest decline since at least 1988.
