Industry at a glance

Vol. 231 No. 10

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

Benchmark crudes averaged near $77/bbl in August and have remained within a $75–78/bbl range throughout September. Global oil supply fell 260,000 bpd to 85 million bpd in August, as non-OPEC output dipped to 48.41 million bpd on seasonal maintenance in Canada, the UK and Russia. US oil production rose by a slight 18,000 bpd, with the largest increase in North Dakota. IEA’s non-OPEC projections for 2010 and 2011 are raised to 52.6 million bpd and 52.9 million bpd, respectively, although Atlantic storms could yet curb autumn Gulf of Mexico supplies. The international rotary rig count saw a net gain of 35 land rigs, led by a 38-rig increase in Canada, as offshore rigs fell by six. The number of rotary rigs running in the US increased by 4.5% to 1,642, and US workover rigs rose by 48. On account of oversupply, the price of natural gas in the US plummeted to an index price of $3.62 in September, a 10-month low.

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