Increase in the Number of Oil Drilling Rigs in the US

In the US, the number of oil drilling rigs increased by 1 this week. Weekly data from the oilfield services company Baker Hughes was released. Accordingly, the number of oil drilling rigs in the country rose by 1 to 480 in the week of January 31 – February 7 compared to the previous week. However, the number of oil drilling rigs in the US decreased by 19 over the past year. The price per barrel of Brent crude oil, which closed Thursday at $74.29, ended Friday at $74.66. West Texas Intermediate (WTI) crude oil closed Friday at $71 per barrel. WTI crude oil had ended Thursday at $70.61 per barrel.