U.S. Oil-Rig Count Fell by 10 in Latest Week

Date : 12/07/2018 @ 6:46PM
Source : Dow Jones News
Stock : Baker Hughes, A GE Company Class A (BHGE)
Quote : 21.41  -0.16 (-0.74%) @ 2:53PM

U.S. Oil-Rig Count Fell by 10 in Latest Week

Baker Hughes, A GE Company Class A (NYSE:BHGE)
Historical Stock Chart

1 Month : From Nov 2018 to Dec 2018

Click Here for more Baker Hughes, A GE Company Class A Charts.
   By Patrick Thomas 

The number of rigs drilling for oil in the U.S. fell by 10 in the past week to 877, according to oil-field services company Baker Hughes, a GE Company.

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 fell sharply.

The oil-rig count has generally been rising since the summer of 2016.

The nation's gas-rig count rose by 9 to 198 for the week, according to Baker Hughes.

The U.S. offshore-rig count was unchanged from last week at 23, which is three more than a year ago.

Brent crude, the global oil benchmark, was up 5.04% to $63.09 a barrel on London's Intercontinental Exchange in Friday afternoon trading. On the New York Mercantile Exchange, West Texas Intermediate futures rose 4.53% to $53.82 a barrel.


Write to Patrick Thomas at patrick.thomas@wsj.com


(END) Dow Jones Newswires

December 07, 2018 13:31 ET (18:31 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest BHGE Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.