Industry at a glance: Oil and Gas Prices and Production and Rig Counts
Benchmark crudes hit seven-year lows in December, after OPEC continued producing, at will, to defend market share. Oversupply has increased downward pressure, and at the time of writing, Brent was trading at $33.72/bbl, with WTI at $33.36/bbl. A slowdown in global growth is predicted, with fourth-quarter 2015 data indicating an easing to 1.3 MMbopd, down from a third-quarter 2015 peak of 2.2 MMbopd. The resulting annual growth of 1.8 MMbopd for 2015 was led by China, the U.S. and India. Global supply inched up 50,000 bopd in November, to 96.9 MMbpd. The U.S. rig count continued to drop, with 714 rigs active in December, a 6% reduction from the previous month’s average. The international rig count lost two units, averaging 1,288 in November. 
U.S. GAS PRICES ($/MCF) AND PRODUCTION (BCFD) GRAPH
U.S. ROTARY DRILLING RIGS GRAPH
U.S. ROTARY DRILLING RIGS TABLE
WORKOVER RIG TABLE
U.S. OIL PRODUCTION TABLE
WORLD CRUDE OIL PRODUCTION, TOP THREE PRODUCERS
WORLD OIL PRODUCTION TABLE
SELECTED WORLD OIL PRICES GRAPH
INTERNATIONAL ROTARY RIG GRAPH
INTERNATIONAL ROTARY RIG TABLE
INTERNATIONAL OFFSHORE RIGS TABLE
- 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)
