Industry at a glance
Vol. 230 No. 6 April global oil supply increased by 230,000 bpd to 83.34 million bpd. OPEC’s crude production in April broke a seven-month downtrend, increasing by 390,000 bpd from a 100,000 bpd increase in Iran and an increase in the amount of NGL and condensa
April global oil supply increased by 230,000 bpd to 83.34 million bpd. OPEC’s crude production in April broke a seven-month downtrend, increasing by 390,000 bpd from a 100,000 bpd increase in Iran and an increase in the amount of NGL and condensate produced in the member nations. The IEA continued to revise its 2009 global oil demand forecast, decreasing the number by 200,000 bpd. The agency projects global oil demand in 2009 at 83.2 million bpd, 2.6 million bpd (3.0%) below 2008’s demand forecast. The US rotary rig and workover rig counts continued to fall, averaging 995 and 1,718, respectively. The counts were down from 1,829 and 2,498 in 2008, a 45.6% and 31.2% decrease, respectively. The international rotary rig count continued to fall; however, its decrease is not as drastic as the US market. International numbers were down to 1,157 in April from 1,273 in 2008, a 9.1% decrease.
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- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)
