U.S. Oil-rig Count Posts Weekly Climb, Up 5 Months In a Row

By Myra P. Saefong Markets MarketWatch Pulse

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by 11 to 733 rigs this week. That marked a 20th weekly rise in a row, or roughly five months. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 8 to 916, according to Baker Hughes. Oil prices appeared unfazed in the wake of the data. July West Texas Intermediate crude was down 51 cents, or 1.1%, to $47.85 a barrel on the New York Mercantile Exchange, little changed from its level before the data.

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