Industry at a glance ///

A sharp drop in West Texas Intermediate crude oil prices was not matched by either Brent Blend or Dubai Fateh, as stronger-than-expected European demand kept prices buoyed on that side of the Atlantic. Once again, a drop in OPEC crude production was more than offset by rising output outside the organization. Natural gas prices slipped on the Henry Hub, settling in the mid-$3 range, while production continued to trend upward. The U.S. Rotary Rig Count continued a steady year-long decline to around 1,740 rigs, 5% below the same period in 2012. Internationally, the rig count rose once again, with improvements on land and offshore.

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