Shares of energy producers ticked up as oil futures held near the $50-per-barrel level in the wake of the latest weekly rig count. The number of rigs drilling for oil in the U.S. fell for the second week in a row, dropping by seven in the past week to 749, according to oil-field services company Baker Hughes. Increases in the Baker Hughes rig count weighed on oil futures earlier this year because of fears that production cuts by OPEC would be offset by increased output on U.S. shale oilfields.
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(END) Dow Jones Newswires
September 15, 2017 16:23 ET (20:23 GMT)