Industry at a glance

	Vol. 226 No. 1

While oil prices continued to fall around the low $40s, OPEC decided to decrease production by 1 million bopd, with Kuwait’s oil minister offering to cut back 120,000 bopd and Libya’s government retreating 80,000 bopd. There are suggestions from OPEC countries to raise the price band for crude from the $22–$28 mark. Violence continues to affect production numbers in Nigeria by about 90,000 bopd as protesters demand employment and benefits from major oil companies. Texas Districts 3, 6, and 10 have gained 46% in their rotary rig count since November 2003, with particular attention to District 6 increasing its count by 29 rigs. Currently, the three districts constitute 38% of the total Texas rig count. Worldwide rig utilization is 85.6%, an increase from one year ago. US geophysical activity counts 49 seismic crews for the month of November, an 11-crew increase since last year. Internationally, geophysical activity is steady.