U.S. RIGS DOWN 11 TO 898
BAKER HUGHES A GE - U.S. Rig Count is down 11 rigs from last week to 898, with oil rigs down 8 to 729, gas rigs down 3 to 169, and miscellaneous rigs unchanged.
U.S. Rig Count is up 329 rigs from last year's count of 569, with oil rigs up 279, gas rigs up 52, and miscellaneous rigs down 2 to 2.
The U.S. Offshore Rig Count is down 2 rigs from last week at 18 and down 3 rigs year-over-year.
Canada Rig Count is up 1 rig from last week to 192, with oil rigs up 4 to 100 and gas rigs down 3 to 91, and miscellaneous rigs unchanged.
Canada Rig Count is up 38 rigs from last year's count of 154, with oil rigs up 24 and gas rigs up 14.
|United States Total||898||-11||909||329||569|
|Gulf Of Mexico||18||-2||20||-3||21|
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|Canada Breakout Information||This Week||+/-||Last Week||+/-||Year Ago|
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|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.