Last week, the count of functioning oil rigs in the US increased for the first time in 2015, according to the report made by an oilfield service company. The number grew by 5, reaching 640 rigs.
Many experts believe that the main reason for that is the increase in WTI oil price (trading at 60 dollars per barrel during the last two weeks), despite its drop in May to 43.46 dollars per barrel.
This movement of crude oil is considered to be stronger than the previous one. Therefore, addi-tional drilling rigs will be put on stream by various oil and gas companies.
Earlier, the drop in the number of functioning oil rigs in the US was due to lower cost efficiency of the companies that specialize in hydrocarbon extraction from shale deposits, due to a slide in the global oil market. Fewer oil rigs are likely to cause a decline in the US oil production.