A piston ring for sealing a cylinder wall to a piston body is provided. The piston ring includes a ring body that extends about an axis and has inner and outer faces. The inner face presents a pair of ridges that extend in a radially inward direction, and the outer face presents a groove. A spring of an elastomeric material substantially circumferentially surrounds the ring body and is seated in the groove on the inner face. The spring biases the ring body in the radially inward direction to seal the ridges against the piston body. The ring body also has at least one oil drainage port which extends at an angle relative to the radially inward direction from the inner face to a location on the outer face on one axial side of the spring for conveying oil out of a space between the ridges.