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US Oil Drilling Retreat
Energy

US Oil Drilling Retreat

Oil explorers idled rigs in US fields for the 25th straight week, drawing out an unprecedented retreat in drilling that has curbed the country’s shale oil boom and helped crude prices rally, Bloomberg reported. Rigs targeting oil in the US declined by 13 to 646, the lowest since August 2010, according to field services company Baker Hughes Inc.

 

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