By Aisha Al-Muslim

The number of rigs drilling for oil in the U.S. were up 7 this week to 798, 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 since June 2016.

The nation's gas rig count was down by 7 to 177 in the past week, according to oil-field services company Baker Hughes.

The U.S. offshore-rig count was up by 2 from last week to 18, which is unchanged from a year ago.

Oil prices were up 0.75% at $61.63 a barrel in afternoon trading Friday.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

February 16, 2018 13:37 ET (18:37 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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