US oil rig count down 5 for week ending Dec

The oil rig count in the US declined by 5 this week, according to the latest data released by oilfield services company Baker Hughes on Friday.

The number of oil rigs, an indicator of short-term production in the country, lowered to 620 for the week ending Dec. 16.

The number of US oil rigs rose by 145 compared to one year ago.

At Friday’s trading close, the price of international benchmark Brent crude stood at $79.04 per barrel, while American benchmark West Texas Intermediate (WTI) was at $74.45 a barrel.

• Oil rig