North America recorded a 6 percent increase in exploration and production activity, though figures are still far lower than this time last year, data show. Oil field services company Baker Hughes reported the average U.S. rig count for September was up 28 from the previous month to 509, while Canada posted a gain of 12 from August to 141. Crude oil prices have recovered substantial ground in recent months, most notably in the wake of a late September consideration by members of the Organization of Petroleum Exporting Countries to hold production levels steady. The price for Brent crude oil is up 15 percent from last week even though no action was taken yet on the OPEC proposal. Rig numbers serve as a barometer to gauge how confident companies are in investing […]