US Oil Drilling Rigs Fall for 11 Weeks

US Oil Drilling Rigs Fall for 11 Weeks. US oil drilling rigs have been in decline for 11 weeks. The oil drilling rigs, which are considered to be the indicator of the oil industry and the short-term crude oil production of the USA, which is one of the countries most affected by the coronavirus outbreak, entered its 11th week by decreasing 15 this week. After the coronavirus leaps, the US's oil drilling rigs have been decreasing for 11 weeks. According to the weekly data released by oil field service company Baker Hughes, oil drilling rigs in the US decreased by 15 to 222 in the week of 23-29 May compared to the previous week. With the decrease in the number of oil drilling rigs in the USA for 11 weeks, a total of 461 rigs decreased during this period. The barrel price of Brent oil, which finished Thursday at $ 35.29, closed Friday at $ 36.03. The barrel price of West Texas (WTI) crude oil finished Friday at $ 35.34. WTI closed Thursday at $ 33.71.