Finance: US oil rig count rises for the 23rd straight week

758 oil rigs were in use in the week ending June 23, 2017.

The US oil-rig count rose by 11 to 758, according to oilfield-services company Baker Hughes.

The oil-rig count has risen for 23 straight weeks, extending a record-long streak of increases.

The gas-rig count fell by three to 183, and miscellaneous rigs were unchanged at zero, making the total rig count 941.

Oil was trading slightly higher around 1:00 p.m. ET Friday, with West Texas Intermediate, the US benchmark, at $42.98 a barrel, up $0.20 or 0.47%.

Here's the chart showing how the rig count has developed over the last several years:

758 oil rigs were in use in the week ending June 23, 2017. Read Full Story