Baker Hughes data indicate a second weekly climb in U.S. oil drilling

Baker Hughes, Friday, reported that the number of active U.S. drilling oil rigs rose by eight at 373 this week.

The report signals a second successive weekly rise as last week, the oil rig count rose by six so, the total active U.S. rig count, including rigs drilling for natural gas, rose by nine to stand at 470 according to Baker Hughes data.

It is worth mentioning that July West Texas Intermediate crude continued to trade higher for Friday’s session. The contract was up by 60 cents, or 0.8%, to USD 71.64 a barrel on the New York Mercantile Exchange.