Oil Falls 2% on Expectations that US Gulf Supply Disruption Will Ease
OPEC and the International Energy Agency (IEA) conflicting oil demand views, with OPEC cutting its world oil demand forecast and the IEA raising its demand growth forecast.
US Oil & Gas Rig Count Falls for Second Week in a Row: Baker Hughes
The week of Aug. 8, 2022 was the first time the U.S. oil and gas rig count fell for two consecutive weeks since August 2020.
US Oil Rig Count Falls by the Most Since September: Baker Hughes
Even though the total rig count in the U.S. has climbed for a record 24 months through July, weekly increases have mostly been in the single digits and oil production is only forecast to recover to pre-pandemic record levels next year.
US Drillers Add Oil and Gas Rigs for Record 24th Month: Baker Hughes
In July, the oil rig count in the U.S. rose 11, increasing for a record 23rd month in a row, while the gas count was unchanged after rising for 10 straight months, according to Baker Hughes.
U.S. Drillers Add Oil and Gas Rigs for Third Week in a Row: Baker Hughes
The U.S. oil and gas rig rose two to 758 from the week prior, marking an increase in rig counts for the third week in a row.
US Drillers Add Oil, Gas Rigs for Second Consecutive Week: Baker Hughes
Even though the total rig count was up for a record 23 months through June, weekly increases have mostly been in the single digits and oil production is still below pre-pandemic record levels.
US Drillers Add Oil and Gas Rigs for Fourth Week in Five: Baker Hughes
The oil and gas rig count in the U.S. rose two to 752 in the week to July 8. Baker Hughes said that puts the total rig count up 273, or 57%, over this time last year.
OPEC Boosts Oil Income in 2021, Well Completions Drop
OPEC raised oil output in 2021 but saw the number of active oil wells increase only slightly and the number of new completed wells decline, a factor in surging oil prices in 2022.
US Drillers Add Oil, Gas Rigs for a Record 23 Months
U.S. oil rigs rose 10 to 594 this week, their highest since March 2020, while gas rigs gained three to 157, their highest since September 2019. That put the overall oil and gas rig count up for a record 23 months in a row, gaining 26 in June.
US Oil Producer Hess Accelerates Plan for Fourth North Dakota Shale Rig
Bakken producer Hess Corp. expects to add a fourth rig to its North Dakota operations in July, moving forward from the company's original goal of adding the additional rig in 2023.