Industry at a glance

	Vol. 227 No. 4

World oil demand was revised to 84.7 million bpd which is still a considerable rebound from 2005, 83.3 million bpd. Supply increased in February by 30,000 bpd. Leaving NGLs and condensate out, non-OECD production was up one million bpd from one year ago. US production in February was down 71,000 bpd despite contributions from Louisiana and Texas, 55,000 bpd and 23,000 bpd, respectively. Workover rig counts were up 22% from one year ago with half of the rig counts coming from the Texas Gulf Coast and Rocky Mountain regions. Canadian rotary rig counts were up 122 units from one year ago. Overall, total international rig count was up 194 since last year. Domestically, US rotary rig counts were up 254 units since February 2005 with Texas, again, contributing the most, 133 units or 52%. In February, prices stayed between the $60 and $65/bbl marks with WTI cooling down by $1.86. US and international seismic crew counts remain ahead of last year’s pace.