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U.S. Oil-Rig Count Rises by Nine in Latest Week

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The number of rigs drilling for oil in the U.S. rose by nine this week to 738, Baker Hughes, a GE company, reported.

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 over the past year.

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