Industry at a glance ///

OPEC crude supply rose by 210,000 bpd to average 34.96 million bpd in May, but remains 1.25 million bpd below pre–Libyan crisis levels. Increases from Saudi Arabia, Nigeria, Kuwait and Iraq offset lower UAE and Angolan output. To soften the impact of reduced supply on oil prices, the IEA introduced 60 million bbl p into the market. The international rig count rose by 2% to 1,428 rigs, with increases in Africa and the Middle East, while the US count gained 47 rigs, to 1,836. Seismic crew counts remained relatively unchanged, with the loss of one crew in Latin America and the addition of two crews in Africa and the Far East.

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