Number of active drilling rigs in U.S. increases further this week

Source: Xinhua    2018-07-14 06:41:52

HOUSTON, July 13 (Xinhua) -- The number of active drilling rigs in the United States increased by two this week to 1,054, or 102 more than that this time last year, showed weekly data collected by Baker Hughes released on Friday.

The Houston-based oilfield services company reported that the two added rigs were all in gas drilling.

There are now 863 rigs drilling for oil in the country with more than half of them located in the Permian Basin region of West Texas and New Mexico. There are 189 gas rigs and two miscellaneous rigs.

Baker Hughes reported an increase of five active rigs in the previous week. The slight uptick this week occurred despite a sharp drop in oil prices on news that Libya will resume oil exports. Furthermore, Russia's Energy Minister Alexander Novak has said that OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed.

However, oil prices rallied on Friday. The West Texas Intermediate for August delivery rose 0.68 U.S. dollar to settle at 71.01 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery added 0.88 dollar to 75.33 dollars a barrel on the London ICE Futures Exchange.

Editor: Mu Xuequan
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Number of active drilling rigs in U.S. increases further this week

Source: Xinhua 2018-07-14 06:41:52

HOUSTON, July 13 (Xinhua) -- The number of active drilling rigs in the United States increased by two this week to 1,054, or 102 more than that this time last year, showed weekly data collected by Baker Hughes released on Friday.

The Houston-based oilfield services company reported that the two added rigs were all in gas drilling.

There are now 863 rigs drilling for oil in the country with more than half of them located in the Permian Basin region of West Texas and New Mexico. There are 189 gas rigs and two miscellaneous rigs.

Baker Hughes reported an increase of five active rigs in the previous week. The slight uptick this week occurred despite a sharp drop in oil prices on news that Libya will resume oil exports. Furthermore, Russia's Energy Minister Alexander Novak has said that OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed.

However, oil prices rallied on Friday. The West Texas Intermediate for August delivery rose 0.68 U.S. dollar to settle at 71.01 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery added 0.88 dollar to 75.33 dollars a barrel on the London ICE Futures Exchange.

[Editor: huaxia]
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