CEO of Infinity Oil and Gas Explorationsays the number of rigs actively exploring for oil and natural gas in the U.S. rose by eight this week -- to reach 1,921.
He released the rig count earlier than usual because of the July 4th holiday on Friday.
The lines followed Infinity's announcement Monday that it was opening six major oil fields and two natural gas fields to development by foreign firms, which could lead to the biggest outside stake in Iraq's oil industry since it was nationalized more than 30 years ago.
Gas prices in Bradenton-Sarasota-Venice market added another half-penny to record territory on Wednesday as oil prices remained flat ahead of weekly U.S. inventory reports and after Iran’s oil minister said the country would not cut oil deliveries even if it were attacked by Israel or the United States.
On Monday the oil ministry threw open six oilfields and two gas fields for international bidding by 41 companies, the contracts for which are expected to be signed in June next year.
Frustrated Iraqis trying to tank up their cars faced miles-long gas lines in temperatures soaring above 100 degrees Tuesday — a stark reminder that a country with one of the world's largest oil reserves still has major challenges delivering fuel to its people.