May 2012
News & Resources

Industry at a glance

Industry at a glance

Vol. 233 No. 5



A crude oil supply tightening that began in mid-2009 has shown signs of turning around in first-quarter 2012, suggesting that a buildup of oil stocks may begin to put downward pressure on prices. Nevertheless, crude hit significant highs in March, buoyed by the possibility of supply disruptions. U.S. production rose again, while world crude production slipped both inside and outside OPEC. The international rotary rig count dropped by some 200, while in the U.S. rig count softened, though still remaining 15% ahead of this time last year. Workovers continued to climb, showing modest gains in most parts of the country. WO

US Gas Prices ($/MCF) and Production (BCFD) Graph      World Oil Production Table
US Rotary Drilling Rigs Graph Selected World Oil Prices Graph
US Rotary Drilling Rigs Table International Rotary Rig Graph
Workover Rig Table International Rotary Rig Table
US Oil Production International Offshore Rigs Table
World Oil Supply/Demand by Quarter    
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