Oil rig count rises for 8th straight week

The US oil rig count rose for an 8th straight period by 11 to 443 this week, according to oilfield-services giant Baker Hughes.
The gas rig count increased by 3 to 108. 
The oil rig count has increased since June as operators became more bullish on the market.
Oil prices have stabilized in a range of $40 to $50 per barrel, giving oilfield-services companies confidence to negotiate higher prices with their clients.
As of last week, the rig count had not dropped for 16 straight weeks, reflect