US Oil Rig Count Remains Steady at 409

US Rig Count Remains Unchanged Oilfield services company Baker Hughes has released its weekly rotary rig report for the period covering February 14-20.
According to the data, the number of oil drilling rigs in the United States remained stable at 409, showing no change from the previous week.
When compared to the same period last year, the total number of active oil rigs in the U.S.
has decreased by 79 over the past twelve months.
Limited Retreat in Oil Prices In addition to the drilling data, market participants monitored price movements in global oil markets.
Limited declines were recorded for both Brent and West Texas Intermediate (WTI) crude oil prices during the final trading days of the week.
Brent crude, which closed at $71.60 on Thursday, ended Friday at $71.26 per barrel.
Similarly, West Texas Intermediate (WTI) crude fell from $66.68 on Thursday to $66.35 per barrel on Friday.