• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours KSA taking Missiles from ?
  • 1 min How to Create a Pandemic
  • 6 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 1 min A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 4 hours Trump eyes massive expulsion of suspected Chinese spies
  • 12 hours >>The falling of the Persian Gulf oil empires is near <<
  • 9 hours Where's the storage?
  • 5 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 3 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 6 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 5 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 11 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
Alt Text

Economic Activity Hits A Decade-Low

Economic activity has plunged to…

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

Rig Count Drops As U.S. Crude Output Hit 11 Million Bpd

Baker Hughes reported a decreased number of active oil and gas rigs in the United States on Friday. Oil and gas rigs decreased by 8 rigs, according to the report, with the number of active oil rigs falling by 5 to 858 this week, while the number of gas rigs dipped by 2, hitting 187.

The oil and gas rig count now stands at 1,046—up 96 from this time last year, with the number of oil rigs accounting for 94 of that 96.

Canada gained 14 oil and gas rigs for the week, 11 of which were gas rigs. Canada’s oil and gas rig count is now up just 5 year over year. Oil rigs are up by 24 year over year in Canada, while the number of gas rigs are down by 19.

The biggest loser by basin this week was Granite Wash, which lost 3 rigs. The only basin to gain rigs this week were Cana Woodford (+2), and Utica (+1). The Permian basin, which saw neither an increase or a decrease this week, and Cana Woodford, saw the biggest increases year over year. Cana Woodford now has 12 more rigs than this time last year, while the Permian has 102 rigs more than this time last year. Related: Who Actually Benefits From Sanctions On Iran?

WTI crude was trading down on Friday afternoon while Brent crude was trading up—widening the WTI discount to Brent. WTI was trading down 0.18% (-$0.12) at $68.12 at 12:34 pm EDT. Brent crude was trading up 0.25% (+$0.18) at $72.76 per barrel.

Both benchmarks are trading significantly down week on week as the market treads carefully after OPEC committed to increasing production in order to more closely stick to its production cut agreement after months of under producing, and despite US production that this week, for the first time, hit a new psychologically important high of 11 million bpd, after hovering at 10.9 million bpd for multiple weeks.

At 11 minutes after the hour, WTI was trading up 0.04% at $68.27, with Brent trading up 0.34% at $72.83.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage






Leave a comment
  • Kay Uwe Böhm on July 20 2018 said:
    Why oil explorers not oil owners like USA itself earning money from oil sellng should pay if it would be anything than fraud that storms from CO2 warming that did not arrive in USA and not making the temperature differences for storms not coming from absolute levels. 100ppm over warm time level increases 0.5°C but decreases over set free sulfides about -0.3°C and with rising rate +2 ppm/a it needs 200 years until doubled with +2°C so all was just global fraud to be judged with all money payed back.

    Exploring oil, gas and coal is not needed with in every case any time needed new atomic power and new 99% efficient turbines also with low temperatures also for making cheap methane CNG out of H2 and CO2 exotherm reaction near eternal

    RBN-Th pebble bed HTR without any rest risk all cases also cheap.
    RBN is cubic boron nitride cBN also called white diamond isotopes B-11 absorption like C-12 and N-15 only 1/100 that way full thorium cycle simply baking fine granulate ThO2 in alpha-BN finished kept inside with fission products also at end storage no quadteiso etc. needed pebble run rime up to 30 years in compact tungsten reflector HTR.
    RBN hard up ro 2800°C unburnable and insoluble allows security also if HTR open under water or in flames
    no electricity & active cooilng need
    double stop by spring 1s after el. break of melt, Hg swap or pressure switches and self slow down over B-11 and Th capturing radiating heat also passive into low melting buffer concrete of outside rib steel inside tungsten double steel walls inside He better Li-7 cooled then to turbines about 1.6m thick secure inside He cooled with W chimney tubes with holes also placeholder.


    Turbines with CF compressor not condenser, backflow coollng all isolated and CO2 instead water for exanple used for glass green house in desert cooled delivering energy not needing water condensed out with CF compressor there very hot cooled with CO2 for new turbines.

    With desalination and agar towers no food & H2O problem left in world
    with eternal 1 Cent-€/kWh energy.

    Original kayuweboehm@yahoo.de

Leave a comment




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