Industry at a glance

Henry Terrell / Contributing Editor

Although international tensions, brought on by the threat of Russian intervention in the Ukraine, eased somewhat in April, crude prices rose on most exchanges, as lower output outside OPEC coincided with rising seasonal refinery demand. OPEC oil production, after falling for five months, increased to 29.9 MMbpd. U.S. oil output rose again to just under 8.25 MMbpd, more than 12% higher than a year ago. Natural gas prices on the Henry Hub slid to $4.66/MMBtu. Excluding an expected drop in Canada, international rotary rig counts rose modestly in April, while the U.S. rig count climbed for the third straight month, surpassing 1,850 in early May.

US Gas Prices ($/MCF) and Production (BCFD) Graph		World Oil Production Table
US Rotary Drilling Rigs Graph		Selected World Oil Prices Graph
US Rotary Drilling Rigs Table		International Rotary Rig Graph
Workover Rig Table		International Rotary Rig Table
US Oil Production		International Offshore Rigs Table
U.S. Onshore Well Count

About the Authors

Henry Terrell

Contributing Editor

Henry Terrell henry.terrell@gulfpub.com