• 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.
  • 2 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 26 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 12 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 4 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 16 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 3 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 19 hours Are you aware of Oil Price short videos on our energy topics?
  • 24 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day NordStream2
  • 3 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 411 days Class Act: Bet You've Never Seen A President Do This.
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 Falls Amid Recovering Oil Prices

Baker Hughes reported a 3-rig decrease for oil and gas in the United States this week. The total number of active oil and gas drilling rigs now stands at 1,079 according to the report, with the number of active oil rigs decreasing by 3 to reach 885 and the number of gas rigs holding steady at 194.

The oil and gas rig count is now 156 up from this time last year.

Crude oil prices picked up earlier in the trading day after a very rough start to the week that saw prices fall 7% on the day on Tuesday. On Wednesday, prices held on a higher note despite the Energy Information Administration’s report that showed a build of 4.9 million barrels in crude oil inventory—in contrast to the surprise draw that the API reported on Tuesday.

The WTI benchmark was trading up 3.44% (+1.84) at $55.27 at 1:18 pm EST—still a couple dollars shy of last week’s prices, with Brent trading up 2.27% (+1.42) at $63.95—also down significantly from last week.

Canada’s oil and gas rigs for the week increased by 7 rigs this week after gaining 1 rig last week, bringing its total oil and gas rig count to 204, which is 11 fewer rigs than this time last year, with a 6-rig increase for oil rigs, and 1 rig increase to the number of gas rigs.

The EIA’s estimates for US production for the week ending November 16 were for an average of 11.7 million bpd for the second week in a row—the highest production rate for the United States.

By 1:26pm EDT, WTI was trading up 3.50% (+$1.87) at $55.30. Brent crude was trading up 2.45% (+$1.53) at $64.06 per barrel, still down week on week.

By Julianne Geiger for Oilpricee.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