The Number of US Oil Drilling Rigs Has Been Declining for 15 Weeks
The number of oil drilling rigs of the USA, which is considered as an indicator of the oil sector’s outlook and short-term crude oil production, fell by 1 this week.
Looking at the weekly figures shared by Baker Hughes, an oilfield service provider, the number of oil drilling rigs in the US fell to 188 in the week of 20-26, compared to the previous week.
With this loss, the number of oil drilling rigs in the country fell 15 weeks in a row and suffered a total of 495 losses.
The price of barrels of Brent oil, which closed on Thursday at $ 41.05, was tracked at $ 40.73 on Friday. The barrel price of West Texas (WTI) crude oil finished Friday at $ 38.20. WTI closed Thursday at $ 38.72.