U.S. RIGS DOWN 34
U.S. Rig Count is down 34 rigs from last week to 664, with oil rigs down 20 to 516, and gas rigs down 14 to 148.
U.S. Rig Count is down 1,086 rigs from last year at 1,750, with oil rigs down 905, and gas rigs down 181.
The U.S. Offshore rig count is 27, up 2 from last week, and down 27 rigs year over year.
Canadian Rig Count is up 83 rigs from last week to 166, with oil rigs up 59 to 71, and gas rigs up 24 to 95.
Canadian Rig Count is down 200 rigs from last year at 366, with oil…
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US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).
U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.