U.S. RIGS DOWN 2
According to BAKER HUGHES, U.S. Rig Count is down 2 rigs from last week to 489, with oil rigs unchanged at 406, gas rigs down 2 to 81, and miscellaneous rigs unchanged at 2.
U.S. Rig Count is down 388 rigs from last year's count of 877, with oil rigs down 269, gas rigs down 121, and miscellaneous rigs up 2.
The U.S. Offshore Rig Count is 17, down 1 rig from last week, and down 13 rigs year over year.
Canadian Rig Count is up 25 rigs from last week to 146, with oil rigs up 19 to 84, and gas rigs up 6 to 62.
Canadian Rig Count is down 50 rigs from last year's count of 196, with oil rigs down 4, and gas rigs down 46.
|United States Total||489||-2||491||-388||877|
|Gulf Of Mexico||17||-1||18||-12||29|
|U.S. Breakout Information||This Week||+/-||Last Week||+/-||Year Ago|
|Canada Breakout Information||This Week||+/-||Last Week||+/-||Year Ago|
|Major State Variances||This Week||+/-||Last Week||+/-||Year Ago|
|Major Basin Variances||This Week||+/-||Last Week||+/-||Year Ago|
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.