Industry at a glance

	Vol. 226 No. 11

Total world oil supply in September was down 850,000 bpd from a month earlier. This was not surprising, given that an overly active hurricane season pushed US supply down by 1.37 million bopd, or 18%. US production now averages 7.33 million bpd for 2005. As a result, IEA has revised its estimates for non-OPEC supply downward by 300,000 to 400,000 bopd for both 2005 and 2006. Meanwhile, workover rig units in the western section of the US are on the rise. The average number of rigs through nine months this year is 105, or 20% higher than in the past decade. US rotary rigs are also up 178 units for the same period, or 15.2% higher than last year’s level, with Texas contributing the most, up 100 rigs or 20%. This year’s average number of rotary rigs running in the US is at its high-est point since 1985. Internationally, rigs are up 265 units, or 23%, from one year ago. In addition, US and international geophysical crew counts remain ahead of last year’s pace.