Industry at a glance

Benchmark crude oil futures were down by $2/bbl month-on-month in February, but rebounded by almost $10/bbl from early-February lows.

	Vol. 231 No. 4

Oil & Gas Industry Statistcs from World Oil Magazine's April Issue

Benchmark crude oil futures were down by $2/bbl month-on-month in February, but rebounded by almost $10/bbl from early-February lows. WTI and Brent Blend were recently trading at $82/bbl and $80/bbl, respectively, on a perceived heightening of geopolitical tensions affecting some producing countries, but market sentiment was tempered by ample physical oil supplies. OPEC crude production hit a 14-month high of 29.2 mb/d in February, with Iraq accounting for half of the 200 kb/d increase. US oil production rose from 5,441 MMb/d to 5,513 MMb/d. Gas prices dropped in March, with an average of $4.29, compared to February’s average of $5.22. The international rig count rose by 8% to 1,692, while the number of US rotary rigs rose by 6%. The workover rig count increased by 2% to 1,726. Both domestic and international geophysical activity remained unchanged through March.

Monthly US Gas Prices and Trends Graph		World Oil Production Table
US Geophysical Activity Table		Selected World Oil Prices Graph
US Rotary Drilling Rigs Graph		International Geophysical Activity Table
US Rotary Drilling Rigs Table		International Rotary Rig Graph
Workover Rig Graph		International Rotary Rig Table
Workover Rig Table		International Offshore Rigs Table
US Oil Production

FROM THE ARCHIVE