US oil rig count unchanged for week ending Sep. 1

The oil rig count in the US remained unchanged 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, remained fixed at 512 for the week ending Sep. 1.

The number of US oil rigs declined by 84 compared to one year ago.

The price of international benchmark Brent crude stood at $88.99 per barrel at Friday’s trading close, while American benchmark West Texas Intermediate (WTI) was at $86.05 barrel.