U.S. oil price rises on falling rig count
Xinhua,December 16, 2017 Adjust font size:
NEW YORK, Dec. 15 (Xinhua) -- U.S. oil price climbed on Friday as data showed the country's oil rigs decreased this week.
Rigs classified as drilling for oil in the United States were down four rigs at 747 in the week to Dec. 15, General Electric Co's Baker Hughes energy services firm said in its weekly report on Friday.
It was the first time in six weeks that U.S. energy companies cut oil rigs, which helped to lift the country's oil price on Friday.
Analysts said the recent pipeline shutdown in the United Kingdom also supported the oil prices as the market supply is capped.
The West Texas Intermediate for January Delivery added 26 U.S. cents to settle at 57.30 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery erased 8 cents to close at 63.23 dollars a barrel on the London ICE Futures Exchange. Enditem