Oil Rig Count in U.S. Advances for First Time in Eight Weeks

Oil rigs in the U.S. rose for the first time in eight weeks as energy producers moved equipment from gas plays to focus on crude and liquids drilling.

Oil rigs rose by five to 1,323, the first advance since Nov. 16, data posted on Baker Hughes Inc.’s website showed. The gas count dropped five to 434, the field-services company based in Houston said. Miscellaneous rigs fell by one to four.