The oil rig count in the U.S. showed an increase this week, according to data released by oilfield services company Baker Hughes on Friday.
The number of oil rigs in the country rose by two for the week ending Nov. 30, bringing the total count to 887 from 885 the week before, the data revealed.
Following the increase in the oil rig count, crude oil prices showed losses in the global market on Friday, with international benchmark Brent crude closing at $59.46 per barrel while American benchmark West Texas Intermediate finished the day at $50.93 a barrel.
The U.S. Energy Information Administration (EIA) data showed Thursday that crude oil production in the country remained almost unchanged at an all-time high of 11.7 million barrels per day (bpd) last week, although output fell by 5 thousand bpd in the state of Alaska.
This marked the 9th time crude oil production decreased in the U.S. during the past 46 weeks. However, the U.S. continues to lead the world as the biggest crude producer.
The U.S.' crude oil production is expected to average 10.9 million bpd in 2018, and 12.1 million bpd in 2019, according to the EIA's Short-Term Outlook report for November.
By Muhsin Baris Tiryakioglu