• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 9 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 7 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 9 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 23 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 1 day Nord Stream - US/German consultations
  • 3 days An Indian Opinion on What is Going on in China
  • 3 days Can Technology Keep Coal Plants Alive and Well?
  • 5 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 12 hours Forecasts for Natural Gas
  • 21 hours Australia sues Neoen for lack of power from its Tesla battery
  • 3 days Storage of gas cylinders
  • 4 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
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

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:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

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