US drillers add rigs for eighth straight week

US drillers this week added oil rigs for an eighth consecutive week, the longest recovery streak in the rig count in over two years, as crude prices rebounded toward the key $50-a-barrel mark that makes the return to the well pad viable.

Lining up: rigs in the Permian basin
Lining up: rigs in the Permian basin
Published 19 August 2016, 17:31Updated 25 October 2016, 15:11