The number of rigs drilling for oil in the U.S. rose by three in the past week to a total of 477, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig count is typically viewed as a proxy for activity in the oil sector. After peaking at 1,609 in October 2014, low oil prices had put downward pressure on production and the rig count receded. The count has generally been rising since this past summer, however. The nation’s gas-rig count rose by one to 119 in the past week, according to Baker Hughes. And the U.S. offshore-rig count fell by one to 22, which is three fewer than a year ago. On Friday, oil prices wavered between losses and gains , after their steep ascent in recent days on news that the Organization of the Petroleum Exporting Countries agreed to cut production. Oil prices were 0.5% higher […]