Industry at a glance

Henry Terrell / Contributing Editor

The rapidly deteriorating political situation in Iraq, with Sunni insurgents gaining control of much of that country’s oil-producing regions, sent oil futures sharply higher in early June, with Brent Blend gliding past $110/bbl. This, along with greater demand from China, put pressure on world oil supplies, which rose to 90.44 MMbpd, most of that outside OPEC. Production in the U.S. surpassed 8.3 MMbopd. Natural gas prices and production remained fairly steady. The U.S. rotary rig count stayed flat going into June, hovering around 1,850, while the international count climbed modestly to 1,516 rigs running.

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
U.S. Onshore Well Count

About the Authors

Henry Terrell

Contributing Editor

Henry Terrell henry.terrell@gulfpub.com