Industry at a glance

	Vol. 226 No. 8

After five months of continuous increase, world oil production declined 160,000 bpd. However, international output has added 1.02 million bopd since the start of the year. US workover rig count remained on the rise, gaining 45 units since January 2005, and 32 rigs higher than last year’s six-month timeframe.

Due to Canada’s seasonal change, international rig count declined 184 units in the past six months. US rotary rigs gained 100 units since the beginning of the year, up 21 from mid-year 2004. Drilling has risen, overall, thanks to high prices. WTI, Brent Blend and Arabian Light have all passed last year’s total price increases in just six months.

US geophysical activity continues to gain momentum, adding five crews since the beginning of 2005. Internationally, seismic crew counts have rebounded significantly from last year. In the CIS region, three times as many crews were added, compared to June of last year.