July 2014
News & Resources

Industry at a glance

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
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