US oil rig count remains unchanged for week ending August 23

The number of oil rigs in the US remained unchanged this week, oilfield services company Baker Hughes data showed Friday.

The number of oil rigs, an indicator of short-term production in the country remained flat at 483 for the week ending August 23.

The number of US oil rigs fell by 29 compared to one year ago.

The price of international benchmark Brent crude stood at $79.02 per barrel at Friday’s trading close, while American benchmark West Texas Intermediate (WTI) was at $74.96 a barrel.