US Oil Rig Count Remains Steady at 409

According to Baker Hughes data, the number of active oil rigs in the United States remained unchanged at 409 for the week ending February 21.

US Oil Rig Count Remains Steady at 409

This stagnation in the rig count, considered a key indicator of future production capacity, was in line with market expectations.
Over the past year, the number of oil rigs has decreased by a total of 79, reflecting an operational contraction in the energy sector.
Weekly Closing in Oil Prices Oil markets recorded a slight loss in value during the final trading days of the week.
Brent crude, which closed at $71.60 on Thursday, ended Friday at $71.26 per barrel.

Sources

Loading...