Industry at a glance

Henry Terrell / Contributing Editor

Crude oil prices fell for the third month in a row during September, and continued to slide into October. Brent fell 20% from mid-summer peaks, while West Texas Intermediate dipped to a four-year low, below $86/bbl. Sagging demand and copious supply promise to put even more downward pressure on prices. Natural gas prices trended lower as well, staying below $4/Btu on the Henry Hub exchange. U.S. crude production topped 8.8 MMbpd, almost 14% higher than a year earlier. The number of drilling rigs running in the U.S. fell slightly, remaining around 1,930, while worldwide, the rig count held steady at 1,730.

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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