Oil drilling towers increase in US

Oil drilling towers increase in US
The number of oil drilling towers in the US suggesting short-term oil production has increased 14 times in the last 16 weeks.

The number of petroleum drilling towers, which are regarded as an indication of US oil industry outlook and short-term crude oil production, has increased 14 times in the last 16 weeks.

According to weekly reports from Baker Hughes, oil service utility companies, 10 oil drilling towers have been serviced in the US in May 5-11.

Thus, the total number of oil drilling towers of the US, which was 834 last week, rose to 844 this week.

As a result, the number of oil drilling towers in the country has increased 14 times in the last 16 weeks.

Following the weekly increase in the number of oil drilling towers, oil prices have seen a slight decline in the global market.

At 20.10, the world’s most widely used London Brent crude oil price fell by 0.2 percent to $ 77.33, while the US West Texas (WTI) crude oil price fell by 0.5 percent to 70, It’s trading at $ 97.