Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Last year ended with a 100,000-bopd increase in world supply, totaling 85.08 million bopd, and a 450,000-bopd decrease in global oil demand. This cut is due largely to mild winter temperatures, thus leading IEA to modify its 2007 global oil demand forecast to 1.6% growth. In mid-January, crude oil prices declined to a 20-month low, as the reduced oil demand countered the effect of OPEC cuts (numbering 155,000 bopd in December). The US workover rig count fell once more in December, ending the year where it started at 1,485 rigs. The international rotary rig count remained below 2005 levels for the second consecutive month, principally because of sharp declines in Canada and Europe. Both US and international seismic crew counts continued nearly unchanged from December, although both stand 14.5% and 8% higher than one year ago, respectively. US oil production increased 2.7% in December.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Aberdeen - December 2-3
Calgary - December 8-8
Mangaf - December 8-10
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.