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Commodities

US Oil Rig Count Slips by 3 This Week

Guavy AI Editorial Team
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Oil
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The US oil rig count has decreased by 3 this week, according to the latest data released by oilfield services company Baker Hughes. The number of oil rigs fell to 452 for the week ending August 21.

This marks a slight decline in short-term production in the country. However, it's worth noting that the number of US oil rigs has increased by 41 compared to one year ago.

The price of Brent crude futures stood at $94.39 per barrel at Friday's close, while West Texas Intermediate (WTI) was at $86.64 a barrel.

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