Here comes the Baker Hughes rig count ...

The weekly count of US oil and gas rigs is set for release from driller Baker Hughes at the top of the hour.

The oil rig count was in a renewed slump last week, and fell by 9 to 605.

The combined count of oil and gas rigs fell 14 to 795, the lowest since May 2012.

On Thursday, Schlumberger, the world’s largest oilfield services company, reported third-quarter earnings results that reflected the continued crunch in the energy sector.

CEO Paal Kibsgaard said the recovery from the oil crash appears to be delayed. And during the earnings call on Friday, he said the recovery in drilling activity may not happen until 2017.

We’ll be back with the latest rig counts once the data cross.

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