• 4 minutes End of Sanction Waivers
  • 8 minutes California Politicians Hiked Gas Tax, Now Demand Investigation Into State's $4 Per Gallon Gas Prices
  • 11 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 15 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 3 hours Permafrost Melting Will Cost Us $70 Trillion
  • 10 mins California is the second biggest consumer of oil in the U.S. after Texas.
  • 4 hours Let's just get rid of the Jones Act once and for all
  • 27 mins Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 3 hours Saudi, UAE Overstate Their Oil Capacities?
  • 23 hours At Kim-Putin Summit: Theater For Two
  • 2 hours Robots And Emotions: Simulated Love Is Never Love
  • 23 hours NAFTA, a view from Mexico: 'Don't Shoot Yourself In The Foot'
  • 20 hours "Undeniable" Shale Slowdown?
  • 1 day UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 1 day Nothing Better than Li-Ion on the Horizon
  • 1 day New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 1 day Russia To Start Deliveries Of S-400 To Turkey In July
Alt Text

Oil Could Fall To $40 If OPEC Abandons Its Deal

Russia has announced that the…

Alt Text

Oil Prices Spike On Libyan Violence

General Haftar has launched a…

Alt Text

Oil Markets Set For Further ‘’Disruption’’

Increased volatility has led 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

Trending Discussions

Oil Prices Slip Amid Falling U.S. Rig Count

The number of active oil and gas rigs in the United States rose this week by 1 rig. Baker Hughes Rig Count last week was largely unchanged as well, with data for 47 counties South Texas largely unavailable last week due to the Hurricane, according to BH.

The total oil and gas rig count in the United States, two weeks post-Harvey, now stands at 944 rigs, up 436 rigs from the year prior, with the number of oil rigs in the United States decreasing by 3 this week and the number of gas rigs increasing by 4.

Oil rigs in the United States now number 756—342 rigs above this time last year.

The number of rigs fell in Arkoma Woodford (1), DJ-Niobrara (1), Fayetteville (1), and Granite Wash (1). Permian, Haynesville, and Cana Woodford, and Marcellus all gained two rigs.

Prices fell on Friday despite promises of decreased exports from Saudi Arabia for the month of October, with promises of a 350,000 bpd decline for the month, with exports to the United States to be below 600,000 bpd.  At 10:53pm EDT Friday, WTI was trading down 1.63 percent at US$48.29, with Brent trading down 0.48 percent at US$54.23—both benchmarks up from last week.   

Despite the small rise in the number of active rigs in the United States, US crude oil production slipped the week ending September 1 to 8,781 bpd—the first under-9,000 bpd week since February. Related: How EIA Guestimates Keep Oil Prices Subdued

Hurricane Irma is currently headed for Florida, and expected to weaken demand further in the coming week, as ports have closed ahead of the storm. Hurricane Katia is following closely behind, and expected to hit the Mexican coast by early tomorrow.

At 8 minutes after the hour, WTI was trading at $48.06 with Brent crude trading at $54.10.

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
  • Ted Shread on September 08 2017 said:
    Looks like the cat is out of the bag on this fake shale coverup, OPEC has caught on.
  • Chris on September 11 2017 said:
    Let's get the units right. 8,871,000 bpd.

Leave a comment




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