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U.S. Oil Drilling Rig Count Declines for 15 Weeks

by Financial Economy

U.S., oil industry outlook and number of oil drilling rigs considered indicative of short-term crude oil production declined 1pc this week

The number of oil rigs in the United States fell 1pc to 188 in the week to June 20-26, compared with the previous week, according to weekly data released by oilfield service company Baker Hughes.

With this decrease, the number of oil rigs in the country declined for 15 consecutive weeks, totaling 495 units.

Thursday’s Friday price of Brent oil, which closed at $ 41.05 a barrel, finished Friday at $ 40.73. The price of West Texas (WTI) – type crude oil per barrel closed Friday at $ 38.20. WTI finished Thursday at $ 38.72.

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