Number of Oil Rigs in the USA Increased This Week

Number of Oil Rigs in the USA Increased This Week Number of oil rigs in the USA increased this week. The country's number of oil drilling rigs increased by 1. The number of oil rigs, which are considered as indicators of the outlook of the US oil industry and short-term crude oil production, increased by 1. According to weekly data released by oilfield services company Baker Hughes, the number of oil rigs in the US rose by 1 to 264 in the week of December 19-25 compared to the previous week. Brent oil completed the day at 51.77 dollars on Thursday, while West Texas (WTI) type crude oil completed the day at the level of 48.23 dollars. Global markets remained closed due to the Christmas holiday on Friday. The coronavirus mutation that emerged in the UK last week caused the prices to decrease due to the concern that global oil demand would decrease, while the European Union (EU) and the UK's reconciliation in the agreement negotiations that will determine the post-Brexit trade relations played a role in the partial increase of the prices.