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U.S.Oil-rig count climbs by 19--Baker Hughes


The number of rigs drilling for oil in the U.S. rose by 19 in the past week to 471,according to oil-field services company Baker Hughes Inc.
The U.S. oil-rig count is typically viewed as a proxy for activity in the sector.After peaking at 1609 in October 2014,low oil prices put downward pressure on production and the rig count receded.The oil-rig count has generally been rising since the beginning of summer,but the sharp rise by 19 in the latest week was the fastest acceleration in some time.