The overall variety of energetic drilling rigs for oil and gasoline in the USA fell once more this week, in line with new information that Baker Hughes printed on Friday.
The overall rig rely fell by 1 to 585 this week, in comparison with 632 rigs this identical time final 12 months.
The variety of oil rigs stayed the identical this week after falling by 2 within the week prior. Oil rigs now stand at 483—down by 29 in comparison with this time final 12 months. The variety of gasoline rigs fell by 1 this week to 97, a lack of 18 energetic gasoline rigs from this time final 12 months. Miscellaneous rigs stayed the identical at 5.
In the meantime, U.S. crude oil manufacturing rose 100,000 bpd in the course of the week ending August 16, in line with weekly estimates printed by the Vitality Info Administration (EIA). Present weekly oil manufacturing in the USA, in line with the EIA, rose 100,000 bpd, again to the earlier document excessive of 13.4 million bpd.
Major Imaginative and prescient’s Frac Unfold Rely, an estimate of the variety of crews finishing wells which might be unfinished, fell within the week ending August 16, from 240 to 234, including onto final week’s loss.
Drilling exercise within the Permian rose by 3 this week to 306, a determine that’s 14 fewer than this identical time final 12 months. The rely within the Eagle Ford fell by 1 this week, sitting at 47 after falling by 2 within the week prior. Rigs within the Eagle Ford at the moment are 5 under the place they have been this time final 12 months.
Oil costs rose on Friday. At 12:58 p.m. ET, the WTI benchmark was buying and selling up $1.79 (+2.45%) on the day at $74.80—a $2 loss week over week regardless of right this moment’s surge. The Brent benchmark was buying and selling up $1.74 (+2.25%) on the day at $78.96—a $1 loss week over week.