US oil rig count rises for 9th straight week to the highest level in a year

The US oil rig count increased by two to 525 in the final week of 2016, rising to the highest level in a year, according to oilfield-services company Baker Hughes. 
The gas rig count increased by three to 132. With one miscellaneous rig remaining in use, the total count rose by five to 658.
In 2016, the oil rig count staged a comeback not seen since the most recent oil crash. This week's increase put it just 11 rigs short of where it started the year, but well off pre-crash levels. 
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