From Herald News Services
Published: Saturday, June 28, 2008
The number of active U.S. natural gas rigs rose to 1,530 this week, the highest since gas-specific recordkeeping began in 1987, according to data published by Baker Hughes Inc.
Rising demand in the U.S. for gas to generate electricity, coupled with declining imports from Canada and reduced supplies of liquefied natural gas have pushed prices higher on speculation of a possible supply crunch next winter.
Rigs exploring for or producing natural gas increased by 16 in the week ended Thursday, Baker Hughes said. The count rose by 35, or 2.3 per cent, from a year earlier.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment