Economy

US oil rig count rises by 5 for week ending Dec. 4

US sees drop of 417 oil rigs from one year ago

Firdevs Yüksel   | 05.12.2020
US oil rig count rises by 5 for week ending Dec. 4

ISTANBUL 

The oil rig count in the US increased this week, according to the latest data released by oilfield services company Baker Hughes on Friday.

The number of oil rigs, an indicator of short-term production in the country, increased by five to 246 for the week ending Dec. 4, from 241 the previous week.

Correspondingly, this marks a drop of 417 in the number of US oil rigs compared to one year ago.

At Friday's trading close, the price of international benchmark Brent crude stood at $49.05 per barrel, while American benchmark West Texas Intermediate (WTI) was at $46.09 a barrel.

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