• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 2 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 7 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 2 hours Old - New Kim: Nuclear Negotiations With U. S. Will Never Resume Unless Washington Changes Its Position
  • 1 hour Theresa May to Step Down
  • 2 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 11 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 3 hours Total nonsense in climate debate
  • 1 hour India After Elections: Economy And Hindu Are The First Modi’s Challenges
  • 9 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 17 hours Asia Oil Refiners Mull Run Cuts With Margins At 16 yrs. Low For Season
  • 15 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 15 hours ARAMCO BOARD: Former Dow Chemical CEO Andrew Liveris: I want to help Saudi Arabia become a 21st century economy
  • 17 hours IMO 2020 could create fierce competition for scarce water resources
  • 15 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 17 hours IMO2020 To scrub or not to scrub
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

Trending Discussions

U.S. Rig Count Rises As Canadian Drillers Prepare For Winter

Coming off a rather abysmal week for oil prices, Baker Hughes reported a 3-rig increase for oil and gas in the United States this week.

The total number of active oil and gas drilling rigs now stands at 1,083 according to the report, with the number of active oil rigs increasing by 2 to reach 885 and the number of gas rigs increasing by 1 to 198.

The oil and gas rig count is now 154 up from this time last year, 138 of which is in oil rigs.

WTI prices were up slightly on Friday following a uneventful EIA report which showed US crude oil inventories were virtually unchanged for the week, contrary to Thursday’s API report which showed a surprise crude oil inventory build. Brent crude was trading slight down on Friday, at $52.44 (-0.55%)

The WTI benchmark was trading up 0.29% (+$0.13) at $44.74, still down for the week.  

Canada’s oil and gas rigs for the week decreased by 61 rigs this week after losing over 50 rigs in the two weeks prior. Canada’s total oil and gas rig count is now just 70, which is 66 fewer rigs than this time last year, with a 43-rig decrease for oil rigs, and a 18-rig decrease for gas rigs for the week as Canada’s oil patch gears up for winter season.

The EIA’s estimates for US production for the week ending December 14 continues to weigh on prices, averaging 11.6 million bpd­—a drop off from the high of 11.7 million bpd a few weeks ago.

By 1:08pm EDT, WTI had increased by 1.88% (+$0.64) at $45.45 on the day. Brent crude was trading up 1.25% (+$0.66) at $53.39 per barrel.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Brian Bresee on December 28 2018 said:
    Do US oil producers know something that Wall Street doesn't, with their increase in the rig count? It appears they expect a meaningful rebound in the price of oil to make such an investment with such low oil prices.

Leave a comment




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