U.S. Oil-Rig Count Rises by 6

By Justina Vasquez Features Dow Jones Newswires

The number of rigs drilling for oil in the U.S. rose by 6 to 747 in the past week, according to oil-field services company Baker Hughes Inc.

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The U.S. oil-rig count typically is viewed as a proxy for activity in the sector.

After peaking at 1,609 in October 2014, production was weighed by low oil prices, and the rig count receded. However, the oil-rig count has generally been rising since last summer as U.S. production ramps up.

The nation's gas-rig count rose by one to 186 in the past week, according to Baker Hughes.

The U.S. offshore-rig count was unchanged from last week at 22, up one rig year over year.

(END) Dow Jones Newswires

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June 16, 2017 14:53 ET (18:53 GMT)