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Worldwide oil production dipped 200,000 bpd during April. OPEC nations increased output by over 550,000 bopd, while OECD and non-OECD nations slipped. WTI crude remained around $93/bbl, with a monthly high of $96/bbl. Brent blend inched upward, starting May at $98/bbl and finishing at $102/bbl. Henry hub prices had a disappointing month, moving from $4.31/Mcf to $4.10/Mcf. The U.S. rig count grew slightly, but it is still down compared to last April, which saw 200 more active units. The international rig count remained flat this month, but grew by almost 100 units over April 2012. International offshore rigs remained flat.
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