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    U.S. oil rig count to peak soon unless WTI prices rise: Kemp

    By hellenicshippingnews.. U.S. exploration and production companies have hired an extra 400 rigs to target oil-bearing formations since the end of May 2016, according to oilfield services company Baker Hughes. The number of active oil-directed rigs has more than doubled over the last year, from 316 to 722, in one of the most remarkable recoveries on record, … Read full story ›

    Source:: Hellenic shipping news Oil