• 4 minutes THE GREAT OIL PRICE PREDICTION CHALLENGE OF 2018
  • 9 minutes Time For Reaction: Trump Presses OPEC to Reduce Prices as Crude Trades Near $80
  • 15 minutes Nothing new in Middle East? Iran Puts On 'Show Of Strength' Military Exercise In Gulf
  • 3 hours So oil touched $80! (WTI break $71 twice). What does the future hold?
  • 4 hours Global Hunger Continues to Grow Driven By Climate Change
  • 5 hours China Tariff Threatens U.S. LNG Boom
  • 7 hours Why Are the Maldives Still above Sea Level?
  • 5 hours Praise for Alberta
  • 8 hours Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 13 hours Freedom Of Internet: Google Plans Censored Version Of Search Engine In China!
  • 2 days Transition Time: Volkswagen Announces "Electric for All" Campaign
  • 2 days Robots Roam the Seafloor Looking for Mineral Resources
  • 1 day Toyota Agreed To Add Android Auto To Its Vehicles
  • 12 hours Lack of Global Warming Messes with Russian Arctic LNG Plans
  • 2 days Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 2 hours Saudi Aramco IPO Seems Unlikely
  • 18 hours Regime For Regime: China Says Willing To Provide Venezuela With What Help It Can
  • 2 days Impeachment and stock market
Alt Text

The Altay Pipeline: A Geopolitical Game Changer

Energy relations between China and…

Alt Text

Diesel Demand Is Set To Soar

New rules on fuel emissions…

Alt Text

Rising Costs Weigh On Permian Gas Production

Permian gas growth is slowing…

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 Slips

Oklahoma rigs

Baker Hughes reported a 13-rig decrease to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs fell to 1,044, according to the report, with the number of active oil rigs falling by 9 ad the number of gas rigs falling by 4.

The oil and gas rig count is now 104 up from this time last year.

At 09:58 a.m. EDT on Friday, WTI Crude was up 1.74 percent at $69.01, while Brent Crude traded up 1.73 percent at $76.39, on signs that Iran’s oil exports have started to drop off, although overall market sentiment was cautious as the U.S.-China trade dispute drags on. Both benchmarks were up significantly from this time last week.

Earlier on Friday, an International Business Times/Newsweek poll suggested oil prices would rise on anticipated supply disruptions from Iran, although respondents felt that the slowing oil demand growth, combined with a weaker dollar, would curtail price increases.

Canada’s oil and gas rigs for the week rose by 17, bringing its total oil and gas rig count to 229, which is 12 more than this time last year, with a 12-rig gain for oil and a 5-rig gain for gas for the week. The price of Western Canada Select (WCS) was trading down on Friday, trading at $36.58 as of 11:50 am, just a hair higher than this time last week.

EIA estimates for US production were up 100,000 barrels per day for the week ending August 17, averaging 11 million bpd. again, after dipping down to 10.8 million bpd as of August 03.

By 1:18pm EDT, WTI and Brent were trading up. WTI was trading up 1.72% (+$1.17) at $69.00. Brent crude was trading up 1.69% (+$1.27) at $76.36 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