Baker Hughes Reports First Rise In Active U.S. Oil Rigs In Five Weeks

By MarketWatch Pulse

Oil prices moved lower after data from Baker Hughes showed that the number of active U.S. oil-drilling rigs climbed by 17 to 541 as of Friday. The total active U.S. rig count, which includes natural-gas rigs, was unchanged at 709. Compared with last year, the total rig count has fallen by 1,166, with the oil-rig count down 995. January crude was at $34.44 a barrel on the New York Mercantile Exchange, down 51 cents, or 1.5%, for the session, trading below the $34.76 it was at before the data.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below