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U.S. Oil Rig Count Jumps by Most in 2011, Baker Hughes Says

Oil rigs operating in the U.S. jumped by the most this year as prices climbed to a 29-month high, according to data published by Baker Hughes Inc. The number of natural gas rigs dropped to a one-year low.

Oil rigs climbed 18 to 801, the biggest one-week increase since the seven days ended Dec. 10, Baker Hughes said on its website. It was the count’s first advance in four weeks.