Baker Hughes reported an increase in the number of active oil and gas rigs in the United States this week. The total number of active oil and gas drilling rigs rose by 4 rigs, according to the report, with the number of active oil rigs increasing by 7 to reach 854 and the number of gas rigs decreasing by 3 to reach 195. The oil and gas rig count is now 74 up from this time last year, 63 of which is in oil rigs. Oil prices were mixed earlier on Friday as signals indicated there may be no resolution to the China trade deal prior to the March 1 st deadline that China and the United States set for sealing a deal. This, mixed with tightening supplies from Venezuela, Libya, and OPEC in general—particularly Saudi Arabia whose January production fell 400,000 from December levels—as well as the prospect […]