BHGE Baker Hughes a GE Company

   By Allison Prang 
 

The number of rigs drilling for oil in the U.S. fell by nine in the past week to 824, according to oil-field services company Baker Hughes, a GE Company.

The U.S. oil-rig count typically is 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 generally has been rising since the summer of 2016.

The nation's gas-rig count fell by one to 192, according to Baker Hughes.

The U.S. offshore-rig count is down two from last week to 20, which is seven more than a year ago.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

March 22, 2019 13:28 ET (17:28 GMT)

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