U.S. Oil-Rig Count Falls by One to 764 -- Baker Hughes
July 21 2017 - 2:05PM
Dow Jones News
By Ali Stratton
The number of rigs drilling for oil in the U.S. fell by one in
the past week to 764, according to oil-field services company Baker
Hughes Inc.
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
the summer of 2016.
The nation's gas-rig count also fell by one to 186 in the past
week, according to Baker Hughes.
The U.S. offshore-rig count rose by two to 23.
West Texas Intermediate futures fell 2.3% to $45.84 a barrel in
recent trading.
Write to Ali Stratton at ali.stratton@wsj.com
(END) Dow Jones Newswires
July 21, 2017 13:50 ET (17:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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