The Worldwide Rig Count for December was 1,660, down 49 from the 1,708 counted in November 2024, and down 79, from the 1,739 counted in December 2023.

Brent fell 6 cents to $73.85 a barrel, WTI was down 11 cents at $70.60 a barrel.

Consequently, Russia will increasingly rely on China and boost energy exports, particularly crude oil and natural gas, in 2025,

Following five years of stagnation, Germany’s economy is now 5% smaller than it would have been if the pre-pandemic growth trend had been maintained.

The report is the second part of a series from independent economic consultants Frontier Energy on modelling the economics of including nuclear in Australia’s National Electricity Market (NEM): the first part, released in November, established the base case against which to compare cost impacts based on the AEMO Integrated Systems Plan.

Our forecast Henry Hub natural gas spot price: Nov. 2024 average: ~$2.10/MMBtu Rest of winter average: ~$3.00/MMBtu

Brent edged up 7 cents to $73.48 a barrel, WTI was at $70.11 a barrel, up 9 cents.

An integrated approach to drive sustainable development goals opens new pathways in green hydrogen applications in industries, utilities and transport sector.

The Worldwide Rig Count for November was 1,708, down 46 from the 1,754 counted in October 2024, and down 86, from the 1,794 counted in November 2023.

Brent fell 6 cents, or 0.1%, to $72.03 per barrel, WTI lost 1 cent to $68.29 per barrel.

Brent rose 29 cents, or 0.4%, to $73.20 a barrel, WTI were at $69.2 a barrel, up 26 cents, or 0.38%.

The investment bank still sees Brent averaging $76 per barrel in 2025, but edged down its 2026 forecast to $71 per barrel on a 0.9 mb/d surplus.

Brent rose 16 cents, or 0.2%, to $72.97, WTI rose 16 cents, or 0.23%, to $68.91.

Brent rose 15 cents, or 0.2%, to $73.45 a barrel, WTI were at $69.31 a barrel, up 15 cents, or 0.2%.

The global oil demand growth forecast for 2024 is revised down slightly by 107 tb/d from the previous month’s assessment to 1.8 mb/d, y-o-y.