By Dave Sebastian

The number of rigs drilling for oil in the U.S. fell by 16 in the last week to 206, according to oil-field services company Baker Hughes.

The gas-rig count in the U.S declined by one to 76 from last week, Baker Hughes said.

The U.S. offshore-rig count ticked up by one to 13 last week and fell by 10 year-over-year.

The U.S. oil-rig count is typically viewed as a proxy for activity in the sector. The metric peaked at 1,609 in October 2014.

Global oil benchmark Brent crude traded lower Friday at around $42.08 a barrel, while West Texas Intermediate crude, the U.S. price benchmark, traded at around $39.24 a barrel.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

June 05, 2020 13:30 ET (17:30 GMT)