One other disappointing week for US oil spill

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The entire variety of lively drilling rigs in the US elevated by 1 this week, in line with new knowledge from Baker Hughes revealed Friday.

The entire rig depend elevated to 765 this week – 237 extra rigs than this time’s rig depend in 2021.

Oil rigs in the US rose 2 to 604 this week. The gasoline rig slipped from 1 to 159. Selection remained the identical on Rig 2.

The rig depend within the Permian Basin remained the identical this week at 344. The rig at Eagle Ford additionally remained the identical at 72. Oil and gasoline rigs within the Permian are 81 above the place they had been this time final yr. Whereas yr after yr, lively drilling within the Permian has remained near present ranges since mid-Might.

Major Imaginative and prescient’s frac unfold depend, an estimate of the variety of staff finishing unfinished wells – a extra frugal use of finance than drilling new wells – in comparison with 287 a month earlier and 257 a yr within the week ending September 23 for elevated from 1 to 288. Earlier

Crude oil manufacturing in the US fell to 12.0 million bpd for the week ended September 23, in line with the newest weekly EIA estimates. US manufacturing ranges are up 300,000 bpd up to now this yr and 1.4 million bpd from a yr in the past.

At 12:27 p.m. ET, the WTI benchmark was buying and selling decrease by $0.55 a barrel (-0.68%) at $80.68 a barrel — primarily flat for the week.

The Brent benchmark was buying and selling at $88.20 a barrel, down $0.28 (-0.33%) on the day, and up .20 a barrel at the moment in comparison with final Friday.

WTI was buying and selling at 80.05 minutes after the discharge of the info.

By Julian Geiger for Oilprice.com

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