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Feb. 17, 2017, 1:42 p.m. EST

Baker Hughes reports a rise in U.S. oil-rig count for fifth week in a row

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By Myra P. Saefong

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil rose by 6 to 597 rigs this week. That marked the fifth weekly increase in a row. The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 10 to 751, according to Baker Hughes. March West Texas Intermediate crude held onto earlier declines after the figures, trading down 15 cents, or 0.3%, at $53.21 a barrel on the New York Mercantile Exchange.

Read the full story:
Oil logs weekly drop on concerns over rise in U.S. crude supply and output

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