U.S. RIGS DOWN 15 TO 913
BAKER HUGHES A GE - U.S. Rig Count is down 15 rigs from last week to 913, with oil rigs down 7 to 736, gas rigs down 8 to 177, and miscellaneous rigs unchanged.
U.S. Rig Count is up 360 rigs from last year's count of 553, with oil rigs up 293, gas rigs up 69, and miscellaneous rigs down 2 to 2.
The U.S. Offshore Rig Count is unchanged from last week at 20 and down 3 rigs year-over-year.
Canada Rig Count is down 10 rigs from last week to 202, with oil rigs down 5 to 107 and gas rigs down 5 to 95.
Canada Rig Count is up 59 rigs from last year's count of 143, with oil rigs up 38 and gas rigs up 21.
|United States Total||913||-15||928||360||553|
|Gulf Of Mexico||20||0||20||-2||22|
|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|
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.