Prices
![Prices](/cache/02-22/price-083.c9d6d746.jpg)
2022, February, 9, 12:25:00
OIL PRICES 2022-23: $87-$68
This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.
![Prices](/cache/02-22/saudi-017.32e93d4a.jpg)
2022, February, 9, 12:20:00
SAUDI ARABIA'S PRODUCTION CAPACITY 13.5 MBD
We are targeting our production capacity to become 13.4, 13.5 million barrels a day by 2027.
![Prices](/cache/02-22/price-090.41e9627d.jpg)
2022, February, 8, 14:15:00
OIL PRICE: NEAR $91
Brent was down 73 cents, or 0.8%, at $91.96 a barrel, WTI fell 52 cents, or 0.6%, at $90.80.
![Prices](/cache/02-22/price-0486.72452b87.jpg)
2022, February, 7, 11:40:00
OIL PRICE: ABOVE $92
Brent was down 2 cents at $93.25 a barrel, WTI fell 47 cents, or 0.5%, to $91.84 a barrel.
![Prices](/cache/02-22/rig-034.216675e1.jpg)
2022, February, 7, 11:05:00
WORLDWIDE RIG COUNT UP 69 TO 1,632
The Worldwide Rig Count for January was 1,632, up 69 from the 1,563 counted in December 2021,and up 449 from the 1,183 counted in January 2021.
![Prices](/cache/01-22/rig-033.b815826d.jpg)
2022, February, 7, 11:00:00
U.S. RIGS UP 3 TO 613
U.S. Rig Count is up 3 from last week to 613 , Canada Rig Count is up 1 from last week to 218.
![Prices](/cache/02-22/price-0494.b51271df.jpg)
2022, February, 4, 11:05:00
OIL PRICE: ABOVE $91
Brent was up 47 cents/b (0.52%) from the previous close at $91.58/b, WTI rose 63 cents/b (0.7%) at $90.90/b.
![Prices](/cache/02-22/usa-064.8621decf.jpg)
2022, February, 4, 10:30:00
U.S. OIL INVENTORIES DOWN BY 1.0 MB TO 415.1 MB
U.S. commercial crude oil inventories decreased by 1.0 million barrels from the previous week to 415.1 million barrels.
![Prices](/cache/02-22/price-0473.4ec1770b.jpg)
2022, February, 3, 13:55:00
OIL PRICE: NOT ABOVE $89
Brent was down 43 cents/b (0.48%) from the previous close to $89.04/b, WTI fell 60 cents/b (0.68%) at $87.66/b.
![Prices](/cache/02-22/price-0460.d3d3e304.jpg)
2022, February, 3, 13:45:00
OPEC+ RUSSIA: GROWTH BY 0.4 MBD
Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of March 2022.
![Prices](/cache/01-22/price-0485.4c0da606.jpg)
2022, February, 2, 12:25:00
OIL PRICE: NEAR $89 YET
Brent crude rose 11 cents, or 0.1%, to $89.27 a barrel, WTI was up 14 cents, or 0.2%, at $88.34 a barrel.
![Prices](/cache/02-22/price-0487.b15882e8.jpg)
2022, February, 2, 12:20:00
EUROPEAN GAS PRICES DOWN
Nord Stream 1 appeared to be returning to full capacity, according to the operator's data, with hourly gas flow nominations reaching 73 GWh since the start of Feb. 1 gas day, compared with 69 GWh/h for Jan. 31.
![Prices](/cache/02-22/opec-011.742da07e.jpg)
2022, February, 2, 12:15:00
OPEC+ WILL UP BY 400 TBD
Demand is expected to surpass pre-pandemic levels in the second half of the year "with a healthy recovery trend," the analysis showed, easing the market oversupply to 1.2 million b/d in the third quarter and 1.1 million b/d in the fourth.
![Prices](/cache/02-22/climate-034.59155cac.jpg)
2022, February, 2, 12:00:00
COLD TEXAS WINTER AGAIN
The National Weather Service on Feb. 1 issued winter storm warnings stretching from the Great Lakes to New Mexico and West Texas and either winter weather advisories or watches for hundreds of miles north and south of the winter storm warning areas.
![Prices](/cache/01-22/price-0491.7e36fe26.jpg)
2022, February, 1, 14:55:00
OIL PRICE: NEAR $89 ANEW
Brent was down 74 cents, or 0.8%, at $88.52 a barrel , WTI slipped 83 cents, or 0.9%, to $87.32.