U.S. Oil-rig Count Up For Second Straight Week

By Myra P. SaefongMarketWatch Pulse

The total number of active U.S. rigs drilling for oil climbed as of July 10, according to data from Baker Hughes released Friday. That marked the second weekly increase in a row. The number of active oil drilling rigs saw a weekly climb of 5 to 645. The total active rig count was at 863, up 1 from last week. Compared to last year, the total rig count has fallen by 1,012, with the oil rig count down 918. August crude was down 11 cents, or 0.2%, at $52.67 a barrel on the New York Mercantile Exchange. That's about where it was trading before the data.

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