"We believe about 100 rigs could be added to the U.S. rig count between now and year-end," analysts at Evercore ISI, a banking advisory firm, said in a report this week, noting "The bottom is passing and the upturn is arriving."
Crude slips on first oil rig jump since December
Drillers added 12 oil rigs to U.S. fields in the last week, snapping a 29-week streak of declines.