US oil rig count remains unchanged for week ending May 24

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 497 for the week ending May 24.

The number of US oil rigs fell by 73 compared to one year ago.

The price of international benchmark Brent crude stood at $82.12 per barrel at Friday’s trading close, while American benchmark West Texas Intermediate (WTI) was at $77.72 a barrel.