US Oil Drilling Rigs Continue to Decline
The number of oil drilling rigs, considered the indicator of crude oil production of the United States (USA), continues to decrease. According to the weekly data released by oilfield service company Baker Hughes, the number of oil drilling rigs in the USA decreased by 1 week in June 20-26 compared to the previous week.
With the decrease, the number of oil drilling rigs in the USA continued its 15-week decline and decreased 495 in total.
Having finished Thursday at $ 41.05, the price of barrels of Brent oil completed Friday at $ 40.73. The barrel price of West Texas (WTI) crude oil closed Friday at $ 38.20. West Texas crude oil (WTI) completed Thursday at $ 38.72.