Industry at a glance

Henry Terrell / Contributing Editor

An interim agreement between OECD countries and Iran concerning the latter’s controversial nuclear program has had little effect on oil prices. Supplies in the U.S. have swelled, putting a damper on crude price increases and further widening the gap between West Texas Intermediate, hovering around $94/bbl, and Brent Blend, averaging about $108 in November. OPEC crude production declined for the fourth month in a row, led by collapsing Libyan output, while the OECD added another half-million bpd in crude and NGL production. U.S. crude output inched above 8 million bpd in November, an increase of almost 14% year-over-year. The U.S. rotary rig count stayed flat at around 1,775.

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

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