Search

U.S. Oil Rig Count Rises As WTI Prices Slide - OilPrice.com

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 189—a gain that may push prices down further.

The total number of active oil and gas rigs increased for the week by 5, with oil rigs increasing by 6 and gas rigs decreasing by 1.

Total oil and gas rigs in the United States are now down by 589 compared to this time last year.

The EIA’s estimate for oil production in the United States stayed the same for the week ending September 25—the last week for which there is data, at 10.7 million barrels of oil per day. U.S. oil production is still down 2.4 million bpd from its all-time high reached earlier this year.

Canada’s overall rig count rose by 4 this week. Oil and gas rigs in Canada are now at 75 active rigs, and down 69 year on year. 

Check back here later today for an update on Frac Spread Counts provided by Primary Vision.

WTI was trading sharply down on Friday, as was the Brent benchmark, coming off another major slump in the previous trading day. Prices have been under pressure due to the demand slump, and today prices feel further as President Trump notified the world that he and his wife tested positive for the coronavirus.

Prices slumped more than 4% in early morning trade. At 12:02 pm EDT, WTI was trading down 2.89% at $37.60—almost $4 down on the week. Brent was trading down 3.05% on the day, at $39.68—also down significantly on the week.  

At 1:16 pm, WTI was trading at $47.34 per barrel, with Brent changing hands at $39.57 per barrel.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage




Related posts

Let's block ads! (Why?)



"oil" - Google News
October 03, 2020 at 12:23AM
https://ift.tt/3cU01AH

U.S. Oil Rig Count Rises As WTI Prices Slide - OilPrice.com
"oil" - Google News
https://ift.tt/2PqPpxF
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini

0 Response to "U.S. Oil Rig Count Rises As WTI Prices Slide - OilPrice.com"

Post a Comment

Powered by Blogger.