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Oil Futures Settle Lower For The Day, Gain Nearly 6 5% In Week

Oil Futures Settle Lower For The Day, Gain Nearly 6.5% In Week WASHINGTON (dpa-AFX) - Crude oil prices drifted lower on Friday, snapping a four-session winning streak. Oil futures scored strong gains in recent sessions, thanks largely to upward revisions in global oil demand forecast by the International Energy Agency and the Organization of the Petroleum Exporting Countries, and data showing a larger than expected drop in crude inventories in the U.S. last week. Data showing a surge in China s oil imports contributed as well to oil s rise in recent sessions. West Texas Intermediate Crude oil futures for May settled lower by $0.33 or about 0.5% at $63.13 a barrel. However, the contract gained nearly 6.5% in the week.

Rigs Added in Permian, Williston as U S Count Up Seven - Natural Gas Intelligence

Rigs Added in Permian, Williston as U.S. Count Up Seven Continued growth in oil-directed drilling, including gains in the Permian and Williston basins, helped lift the U.S. rig count seven units higher to 439 for the week ended Friday (April 16), according to the latest figures published by Baker Hughes Co. (BKR). An increase of seven oil-directed rigs and one natural gas-directed rig offset the departure of one miscellaneous unit in the United States for the week. The combined 439 rigs active as of Friday compares with 529 rigs in the year-ago period, according to the BKR numbers, which are based partly on data from Enverus.

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