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Us Oil Rigs

All articles tagged with #us oil rigs

business7 months ago

Oil Prices Rise as OPEC+ Maintains Production Levels

Oil prices rose over $1 a barrel after OPEC+ decided to maintain a steady output increase of 411,000 barrels per day in July, which was seen as a relief by traders. The decision, aimed at regaining market share and addressing overproduction by some members, was already priced into futures, and analysts expect a similar increase in August. Meanwhile, US oil rig counts continue to decline, raising supply concerns amid seasonal demand and hurricane season jitters.

via Reuters|
#brent-crude#business#oil-output-hike
energy2 years ago

Declining U.S. Oil Rigs, Rising Gas Rigs, and International Offshore Downturn: A Weekly Update

The total number of active drilling rigs in the US decreased by 4 this week, marking the second consecutive week of decline. Oil rigs fell by 5, while gas rigs saw an increase of 2. The Permian Basin and Eagle Ford also experienced fluctuations in their rig counts. Despite the decrease in rig count, crude oil production in the US remained steady at 12.9 million bpd. However, WTI and Brent benchmarks observed a drop in trading prices compared to the previous week.

via OilPrice.com|
#crude-oil-production#drilling-rigs#energy
energy2 years ago

"Oil Futures Surge 1% to One-Week High Amid Soaring US Diesel Prices"

Oil futures rose by about 1% to reach a one-week high due to soaring U.S. diesel prices, a decrease in the number of oil rigs, and a fire at a refinery in Louisiana. Brent crude futures settled at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude settled at $79.83. Diesel futures also surged to a near seven-month high, leading to an increase in the diesel crack spread. Weak economic data and a stronger dollar limited the gains. Despite concerns about economic growth and inflation, analysts expect crude prices to remain supported around $80 per barrel.

via CNBC|
#diesel-prices#economic-data#energy