• 4 minutes USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 10 minutes IT IS FINISHED. OPEC Victorious
  • 16 minutes GOODBYE FOREIGN OIL DEPENDENCE!!
  • 7 mins Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 18 hours The Great Climate Change Swindle
  • 4 hours End of EV Subsidies?
  • 8 hours Price Decline in Chinese Solar Panels
  • 5 hours Maersk's COO statment.
  • 1 hour Trump accuses Google Of Hiding 'Fair Media' Coverage of him
  • 1 day S. Australia showing the way
  • 19 hours China Builds LNG Icebreaker
  • 1 day More OPEC Members May Leave
  • 22 hours Exxon buys green power.
  • 4 hours EPA To Roll Back Carbon Rule On New Coal Plants
  • 2 days Not only GM: Morgan Stanley Predicts Ford to Cut 25,000 Jobs in Overhaul
  • 1 day Feudalism: The Most Resilient System?
Alt Text

Aramco’s $500 Billion Global Expansion

Saudi Aramco is looking to…

Alt Text

Will Canadian Oil Producers Cut Output?

The Canadian oil industry is…

Alt Text

Could Iraq Be The Next OPEC Member To Exit?

Just two days after Qatar’s…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for US-based Divergente LLC consulting firm, and a member of the Creative Professionals Networking Group.

More Info

Trending Discussions

Oil Prices Rise As Rig Count Sees Minor Dip

Baker Hughes reported a loss of two rigs in the United States this week, bringing the total number of active oil and gas rigs to 1,053 according to the report, with the number of active oil rigs decreasing by one to reach 866 and the number of gas rigs holding steady for the second week in a row at 186. The miscellaneous rig count fell by one rig.

The oil and gas rig count is now 118 up from this time last year.

At 12:03pm. EDT on Friday, WTI Crude was trading down 0.13 percent at $70.23—but over $1 per barrel up from this time last week, while Brent Crude was trading down 0.35 percent at $77.95—a few pennies down from this time last week.

The lower prices are partially attributed to President Donald Trump’s Twitter Chastisement on Thursday that berated OPEC for manipulating prices upwards as Brent neared the scary $80 per barrel mark. Limited the price decline is reports that Japan and South Korea both have ceased all crude oil trading with Iran, and India has significantly reduced its purchases of Iranian oil this month and next. Speculation that Libya may be forced to close its Wafaa oilfield completely if a current blockade of an airport there continues.

Canada’s oil and gas rigs for the week lost 29 rigs this week after adding 22 rigs last week, bringing its total oil and gas rig count to 197, which is 23 fewer than this time last year, with an 13-rig decrease for oil and a 16-rig decrease for gas for the week.

On the production side, the EIA’s estimates for US production for the week ending September 14 were for an average of 11.0 million bpd.

By 1:09pm EDT, WTI was trading up 1.02% (+$0.72) at $71.04. Brent crude was trading up 0.08% (+$0.06) at $78.28 per barrel.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
-->