Here comes the Baker Hughes rig count ...

Just after 1:00 p.m. ET, oil driller Baker Hughes will release the latest weekly tally of oil and gas rigs.

The tally of oil rigs climbed by one to 675 last week, rising for the sixth straight week. It was also an increase for the eighth out of nine weeks.

Oil prices have been volatile of late, and ahead of the rig count release on Friday, West Texas Intermediate crude oil was down about 1%, near $46.17 per barrel.

We'll be back with the latest rig count data once they cross. Here's the latest chart of the oil rig count, with the rebound in the tally over the past few weeks now much clearer:

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