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2015-01-06 13:00:00

U.S. OIL: MUCH WORSE

U.S. OIL: MUCH WORSE

U.S. oil drillers laid down the most rigs in the fourth quarter since 2009. And things are about to get much worse.

The rig count fell by 93 in the three months through Dec. 26, and lost another 17 last week, Baker Hughes Inc. (BHI) data show. About 200 more will be idled over the next quarter as U.S. oil explorers make good on their promises to curb spending, according to Moody's Corp.

Drillers are already running the fewest rigs in nine months after a 46 percent drop in U.S. benchmark West Texas Intermediate oil in 2014, the steepest decline in six years and the second-worst since the commodity began trading…

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Tags: U.S., OIL, RIGS, PRICE
Chronicle:
U.S. OIL: MUCH WORSE
2020, February, 24, 10:23:00
SAIPEC EXIBITION, CONFERENCE 25-27 FEB 2020
WELCOME TO THE 4TH SUB SAHARAN AFRICA INTERNATIONAL PETROLEUM EXHIBITION AND CONFERENCE - OIL AND GAS AS AN ENABLER FOR ECONOMIC TRANSFORMATION IN SUB-SAHARAN AFRICA
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2020, February, 24, 10:20:00
ARGENTINA'S RENEWABLE UP BY 86%
Renewable power production in Argentina jumped by 85.9% year-on-year to 956 GWh in January
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2020, February, 24, 10:15:00
BRAZIL'S SOLAR POWER UP BY 19%
Brazil's solar power output in the first 15 days of the month went up to 587 average megawatts (MWa) from 495 MWa a year ago for a 18.6% increase.
U.S. OIL: MUCH WORSE
2020, February, 24, 10:10:00
SAUDI'S ECONOMY GROWTH
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2020, February, 24, 10:05:00
COLOMBIA'S GDP UP 3.3%
Despite slower regional and global growth, real GDP grew 3.3 percent in 2019 and is forecast to grow by 3.4 in 2020 led by internal demand. Sustained immigration, remittances, and accommodative monetary and credit conditions are expected to continue supporting private domestic demand, including rising investment. Notwithstanding growth resilience, the labor market remained weak in 2019.
U.S. OIL: MUCH WORSE
2020, February, 24, 10:00:00
URUGUAY'S GDP GROWTH 2.1-2.5%
URUGUAY'S GDP growth is expected to rebound from an estimated 0.5 percent in 2019 to 2.1 percent in 2020 and 2.5 percent in 2021
U.S. OIL: MUCH WORSE
2020, February, 24, 09:55:00
U.S. RIGS UP 1 TO 791
U.S. Rig Count is up 1 rig from last week to 791, Canada Rig Count is down 11 rigs from last week to 244
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