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

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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