Baker Hughes Data Show U.S. Oil-rig Count Down For First Time In 11 Weeks

By Myra P. SaefongMarketsMarketWatch Pulse

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil fell by 7 to 522 rigs this week. The decline follows ten consecutive weeks of increases. The total active U.S. rig count, which includes oil and natural-gas rigs, also fell 6 to 659, according to Baker Hughes. February West Texas Intermediate crude was trading down 46 cents, or 0.9%, for the session at $52.55 a barrel on the New York Mercantile Exchange, unchanged from the levels it traded at before the data.

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