By Dave Sebastian

 

The number of rigs drilling for oil in the U.S. fell by two in the latest week to 443, according to oil-field services company Baker Hughes Co.

The oil-rig count was 232 higher than a year earlier, Baker Hughes said Friday.

The nation's gas-rig count rose by one to 99 in the latest week, and was up by 26 compared with the same week last year.

The U.S. offshore-rig count rose by one to 13 this week and is unchanged from the year-ago period.

The U.S. oil-rig count is viewed as a proxy for activity in the sector. The metric peaked at 1,609 in October 2014.

Global oil benchmark Brent crude rose to about $85.46 a barrel Friday. West Texas Intermediate crude, the U.S. benchmark, rose to about $83.64 a barrel.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 22, 2021 14:05 ET (18:05 GMT)

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