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U.S. oil rig count increases to nearly two-year high

Staff Writer |
The U.S. oil-rig count rose by five to 688, according to oilfield-services provider Baker Hughes.

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This is marking the 14th week in a row with an increase.

Gas rigs rose by five to 167 and miscellaneous rigs remained unchanged at two, leaving the total rotary rig count at 857.

The oil rig count was at its highest level since the week ending April 24, 2015.

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