By Aisha Al-Muslim

The number of rigs drilling for oil in the U.S. were up by three this week to 857, Baker Hughes, a GE company, reported Friday.

The nation's gas rig count was down one to 194 in the past week, according to the oil-field services company.

The U.S. offshore-rig count was up two from last week to 21, which is three more than a year ago.

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.

Oil prices were are up 2% to $55.50 a barrel in afternoon trading Friday.

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

(END) Dow Jones Newswires

February 15, 2019 13:26 ET (18:26 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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