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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, fell to 570 for the week ending May 26.
The number of US oil rigs decreased by 4 compared to one year ago.
The price of international benchmark Brent crude stood at $77.12 per barrel at Friday’s trading close, while American benchmark West Texas Intermediate (WTI) was at $72.87 a barrel.
