• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 17 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 16 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 1 hour Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 19 hours Did China cherry-pick the factors that affected the economic slow-down?
  • 20 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 20 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 3 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 4 days Nord Stream - US/German consultations
  • 8 mins NordStream2
  • 410 days Class Act: Bet You've Never Seen A President Do This.
  • 6 days An Indian Opinion on What is Going on in China
  • 3 days Forecasts for Natural Gas
  • 3 days Australia sues Neoen for lack of power from its Tesla battery
  • 6 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
Why $80 Oil Won't Destroy Demand

Why $80 Oil Won't Destroy Demand

Global oil demand is recovering…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

U.S. Oil Rig Count Leaps Higher

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 205—a gain that may push prices down further.

The total number of active oil and gas rigs increased for the week by 13, with oil rigs rising by 12 and gas rigs rising by 1.

Total oil and gas rigs in the United States are now down by 569 compared to this time last year.

The EIA’s estimate for oil production in the United States fell during the week ending October 9—the last week for which there is data, to 10.5 million barrels of oil per day. U.S. oil production is down 2.6 million bpd from its all-time high reached earlier this year.

Canada’s overall rig count stayed the same this week. Oil and gas rigs in Canada are now at 80 active rigs, and down 63 year on year. 

The frac spread count provided by primary vision rose from 115 to 130 for the week.

WTI was trading down on Friday, as was the Brent benchmark, with both set to finish out the week lower than last week as Europe dished out new lockdown measures and several industry reports, including the IEA and OPEC, painted gloomy pictures about oil demand’s slow recovery.

At 12:15 pm EDT, WTI was trading down 0.37% at $40.81. Brent was trading down 0.51% on the day, at $42.94, down roughly $.50 on the week.   

By 1:04 pm, WTI was trading at $40.86 per barrel, with Brent changing hands at $42.96 per barrel, with oil prices starting to dip under the weight of added rigs.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • George Doolittle on October 16 2020 said:
    GOM has still barely scratched the surface for what is is possible as relates to oil output.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News