US Oil Drilling Rigs Continue to Decline

US Oil Drilling Rigs Continue to Decline

The number of oil drilling rigs in the USA, which has been declining for 18 weeks, has decreased by 1 this week. The number of oil drilling rigs of the USA, which is considered as the outlook of the oil industry and the indicator of short-term crude oil production, continues to decrease for 18 weeks. Looking at the weekly data published by oil field service company Baker Hughes, the number of oil drilling rigs in the USA decreased 1 week in July 11-17 compared to the previous week. With this decrease, the number of oil drilling rigs in the USA has dropped to 180. Oil drilling rigs, which recorded a decrease in 18 consecutive weeks, decreased by 503 in total. Having finished Thursday at $ 43.37, the price of barrels of Brent oil completed Friday at $ 43.12. The barrel price of West Texas (WTI) crude oil finished Friday at $ 40.59. WTI closed Thursday at $ 40.75.