U.S. drillers adding rigs as OPEC production freeze looms

Bloomberg reports that U.S. companies are adding the most drilling rigs since crude oil was worth $100 a barrel amid rising confidence that the Organization of the Petroleum Exporting Countries (OPEC) may finally agree to a production freeze. Citing Baker Hughes data released on August 19, 2016, the news service says U.S. producers had put 76 rigs back to work over the past eight weeks. That marks the biggest and longest increase since 101 rigs were added a few months before oil prices began to crash in mid-2014, according to Bloomberg. For more, read the full story.

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