September 2015
News & Resources
Industry at a glance
Industry at a glance
World benchmark crude prices continued to drop from July through August, only to stage a sharp rally in the last week of the month. West Texas Intermediate hit a six-year low of $38/bbl on Aug. 26, then climbed over $10 over the next three trading days to nearly $50/bbl, driven by news that OPEC would consider production cuts. Non-OPEC oil output slowed modestly in July, as decreased drilling activity began to show some impact on production. OPEC crude output dropped only slightly off its recent three-year peak. U.S. rotary rig counts rose slightly in August to 894, though they remained more than 50% below year-ago averages. The worldwide rig count held fairly steady across the board.
U.S. GAS PRICES ($/MCF) AND PRODUCTION (BCFD) GRAPH
U.S. ROTARY DRILLING RIGS GRAPH
U.S. ROTARY DRILLING RIGS TABLE
WORKOVER RIG TABLE
U.S. OIL PRODUCTION TABLE
WORLD CRUDE OIL PRODUCTION, TOP THREE PRODUCERS
WORLD OIL PRODUCTION TABLE
SELECTED WORLD OIL PRICES GRAPH
INTERNATIONAL ROTARY RIG GRAPH
INTERNATIONAL ROTARY RIG TABLE
INTERNATIONAL OFFSHORE RIGS TABLE
About the Authors
Henry Terrell
Contributing Editor
Henry Terrell henry.terrell@gulfpub.com