The oil rig count in U.S. increased this week, according to the latest data released Friday by oilfield services company Baker Hughes.
The number of oil rigs, an indicator of short-term production in the country, rose by two to reach 678 for the week ending Feb. 14, from 676 the previous week.
This marked the second week in a row that the oil rig count in the U.S. showed an increase.
However, the oil rig count in the country is still 20.89% down year-over-year, which stood at 857 the same time a year ago.
By Ovunc Kutlu