Oil prices recovered some ground Friday, buoyed by lower drilling activity in the U.S., drawdowns on gasoline and diesel, and by more speculation about Russia and major oil exporters meeting about supply cuts. Light, sweet crude for November delivery settled up 88 cents, or 1.9%, to $47.26 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, gained 73 cents, or 1.5%, to $50.46 a barrel on ICE Futures Europe. About half of the market’s gains came late in the afternoon, after Baker Hughes Inc. BHI -4.20 % said the number of working U.S. oil rigs had fallen by 10 to 595 in the latest week, the seventh consecutive week of declines. Some view this as a proxy for estimating what might happen to production, and a sharp fall in the rig count during the year’s collapse in oil prices has led many to speculate that production […]