US Oil Drillers See Pullback as Oil Prices Rise
Tankers Wait a Month as Venezuela Hits an Oil Export Ceiling Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, with the total rig count in the US falling to 588, up 50 from this same time last year.
The number of active oil rigs fell by 3, sinking to 452 during the latest reporting period, according to the data.
This is 41 above this same time last year.
The number of gas rigs fell by 1 to 127, which is 5 more than this time last year.
The latest EIA data showed that weekly U.S.
crude oil production rose during the week ending August 14.
US crude oil production averaged13.830 million bpdduring the reporting period, up from 13.805 million bpd last week and up 503,000 bpd from a year ago.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, fell by 3 in the week ending August 14, to 193 crews, after gaining 2 in the week prior.
The number of active drilling rigs in the Permian Basin rose by 2 in the reporting period, hitting 267.
The count in the Eagle Ford rose by 1 to 50, which is 11 more than this same time last year.
Oil prices were up on Friday with Brent now trading at$94.23(+0.48%) per barrel.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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