The oil rig count in U.S. has declined for four consecutive weeks, according to the latest data released Thursday by oilfield services company Baker Hughes.
The number of oil rigs, an indicator of short-term production in the country, fell by 58 to reach 504 for the week ending April 9, from 562 the previous week.
With the latest result, the number of oil rigs in the country has now hit its lowest level since December 2016, according to data.
In the past four week, the decline in oil rig count in the U.S. totaled 179, the data showed.
Baker Hughes released rig count data on Thursday this week, instead of usual Friday, since markets were closed due to observance of Good Friday.
On Friday, price of international benchmark Brent crude stood at $31.82 per barrel, while American benchmark West Texas Intermediate (WTI) was at $23.21 a barrel.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr