Industry at a glance

Henry Terrell / Contributing Editor

Signs of slowing worldwide demand growth, combined with plentiful supplies, caused crude oil prices to fall generally last month. Brent Blend dipped below $100/bbl before recovering slightly, while West Texas Intermediate fell to the mid-$90s range. Oil production outside North America—both Opec and non-Opec—fell, bringing world crude output to about 90.4 MMbpd, still 800,000 bpd higher than a year ago. U.S. crude production rose, at a pace similar to that of recent months. Natural gas prices sagged, falling below $4/MMBtu, even as production climbed. The U.S. rotary rig count climbed 1.4% in September, while the worldwide count, overall, gained slightly, despite a 3.7% drop in offshore units.

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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