U.S. RIGS UP 16
U.S. Rig Count is up 16 rigs from last week to 901, with oil rigs up 8 to 720, gas rigs up 8 to 180, and miscellaneous rigs unchanged at 1.
U.S. Rig Count is up 497 rigs from last year's count of 404, with oil rigs up 402, gas rigs up 95, and miscellaneous rigs unchanged.
The U.S. Offshore Rig Count is up 2 rigs from last week to 23 and down 1 rig year over year.
Canadian Rig Count is up 5 rigs from last week to 85, with oil rigs up 7 to 36 and gas rigs down 2 to 49.
Canadian Rig Count is up 41 rigs from last year's count of 44, with oil rigs up 20, gas rigs up 22, and miscellaneous rigs down 1 to 0.
|United States Total||901||16||885||497||404|
|Gulf Of Mexico||23||3||20||0||23|
|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.