Coffee Sipping Big Board Stocks

[EZ2]

U.S. Oil-Rig Count Rises by Nine

DOW JONES & COMPANY, INC. 1:32 PM ET 4/28/2017

Symbol Last Price Change
BHI 59.4up -0.25 (-0.42%)
QUOTES AS OF 01:32:05 PM ET 04/28/2017

The number of rigs drilling for oil in the U.S. rose by nine in the past week to 697, according to oil-field services company Baker Hughes Inc.(BHI)

The U.S. oil-rig count is typically viewed as a proxy for activity in the sector. After peaking at 1,609 in October 2014, low oil prices put downward pressure on production and the rig count receded. However, the oil-rig count has generally been rising since last summer.

The nation's gas-rig count rose by four to 171 in the past week, according to Baker Hughes(BHI).

The U.S. offshore-rig count fell three rigs from last week to 17, which is down eight rigs year over year.

On Friday, oil prices rose 0.5% to $49.21.

Write to Austen Hufford at [e-mail]


(END) Dow Jones Newswires
04-28-171332ET
Copyright (c) 2017 Dow Jones & Company, Inc.