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Oil rig count in US falls by 3 this week

- Number of US oil rigs falls to 668

home > Oil, General 30.11.2019 13:35 Muhsin Tiryakioğlu

Oil rig count in US falls by 3 this week

The number of oil rigs in the U.S. decreased by 3 this week, according to data released by oilfield services company Baker Hughes on Friday.

Number of oil rigs, which indicates short-term production for near future, decreased by 3 to reach 668 for the week ending Nov. 29, from 671 in the previous week when it fell by 3.

This marked the sixth consecutive week that the number of oil rigs in the U.S. showed a decline.

With the latest result, the number of oil rigs in the country stood at 219 less than the same period a year ago when it was 887, marking a 24.69% decline in oil rig count year-over-year.

Crude prices were down on Friday despite the decline in the rig count.

International benchmark Brent crude closed Friday at $60.75 per barrel with a 3.76% decrease.

American benchmark West Texas Intermediate ended the session at $55.42 a barrel with a 4.55% daily loss.

By Muhsin Baris Tiryakioglu

Anadolu Agency

energy@aa.com.tr


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- Tensions between Seoul, Tehran mounting following Iran's seizure of South Korean-flagged oil tanker
06.01.2021 Oil , International Relations , World , Middle East-Africa

Oil prices down over adjourned OPEC+ meeting

- Meeting to resume later Tuesday after inconclusive Monday meeting due to splits on production cuts among member countries
06.01.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Total to operate new offshore exploration in Egypt

- International consortium, including Shell, KUFPEC and Tharwa, will carry out 3D seismic campaign in first 3 years
05.01.2021 Oil , News from companies , World

Oil prices up ahead of OPEC+ meeting

-At meeting later Monday, group will decide February's production quota, which is expected to remain at 7.2M barrels per day
05.01.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US oil rig count rises by 3 for week ending Jan. 1

- Oil rigs increase by 3 to 267, from 264 the previous week
03.01.2021 Oil , Americas

Brent oil price up 0.11% for week ending Dec. 31

- US crude oil inventories, which declined more than expected, contributed to prices increases
01.01.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Turkey's energy import bill down 24.8% in November 2020

- Last month, overall energy imports fall with increase in country's domestic and renewable energy production
02.01.2021 Oil , Energy Diplomacy , Energy Projects , Turkey

Oil up on US inventory fall, UK vaccine approval

- Commercial crude oil stocks decrease by 6.1 barrels against market expectation of 2.1-million barrel fall
01.01.2021 Oil , Oil , International Organization

US crude oil inventories fall for week ending Dec. 25

- Commercial crude oil stocks decrease by 6.1 million barrels, more than market expectation of 2.1-million barrel draw
01.01.2021 Oil , Americas

Oil prices up on economic rebound optimism

- API estimates 4.8M-barrel decline in US crude oil inventories last week from market expectation of 2.1M-barrel draw
30.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices up after US okays stimulus payments

- Investors are now waiting for outcome of OPEC+ meeting on Jan. 4 when group will decide on next month’s production quota
30.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Saudi Arabia discovers four new oil fields

- State-oil firm Saudi Aramco is working on determining size and volume of discovered fields, says country’s energy minister
30.12.2020 Oil , Middle East-Africa

Oil down on demand fears from spread of virus variant

-US President Donald Trump finally signs pandemic relief pack, boosting hopes for economic recovery in country
30.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US oil rig count rises by 1 for week ending Dec. 25

- Oil rigs increase by 1 to 264, from 263 the previous week
27.12.2020 Oil , Americas

Brent oil price up 1.06% for week ending Dec. 25

- Emergence of mutant coronavirus said to be 70% more contagious put pressure on oil prices, boosting demand fears
26.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices up on Brexit deal, US relief pack hopes

-While rise in coronavirus cases still pressures oil prices, vaccines continue to instill hope of speedier demand recovery
26.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Eni discovers oil in Western Desert of Egypt

-Eni's new discovery will add 10,000 barrels of oil per day to the current concession production
24.12.2020 Oil , Finance , Europe , General

Oil prices climb as US oil inventories fall

- Crude oil inventories in US fall by 600,000 barrels for week ending Dec. 18
25.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories fall for week ending Dec. 18

- Commercial crude oil stocks decrease by 600,000 barrels against market expectation of 3.2-million barrel fall
25.12.2020 Oil , World , Americas

Oil prices down over pandemic-driven demand fears

-Further fueling weak demand fears, US crude oil inventories are forecast to rise by 2.7 million barrels, API figures show
24.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Lukoil, Gazprom to cooperate to develop 2 fields

-Companies to establish joint venture to carry out project
23.12.2020 Oil , News from companies , World , Eurasia

Greenpeace loses Norway supreme court Arctic oil case

- Norway's supreme court approves government's plans for Arctic oil exploration
22.12.2020 Oil , Europe , General

Future of oil prices depends on vaccines: IEA chief

- Even if viable vaccine becomes widely available, little recovery is expected in oil markets, says Fatih Birol
23.12.2020 Oil , Renewable , World

Norway's petroleum sales decrease in November

- Country's total petroleum product sales volume in October down 16.2% to 548 million liters compared to same month of 2019
22.12.2020 Oil , Finance , Europe , General

ConocoPhillips announces oil discovery in Norwegian Sea

- Size of discovery is between 75 million and 200 million barrels of recoverable oil equivalent
22.12.2020 Oil , Europe , Americas , General

Iran, Russia to cooperate in oil and gas sector

- Countries vow to expand cooperation to neutralize effects of US sanctions
22.12.2020 Natural Gas , Oil , Energy Diplomacy , Europe , Middle East-Africa

Oil prices down as mutant virus spurs demand fears

- Rising value of dollar also exerts downward pressure on oil prices which are indexed to US dollar
22.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Revenues of oil giants decline 35.8% in 3Q20

- Royal Dutch Shell records highest year-over-year decline in revenue
22.12.2020 Oil , News from companies , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices down over new COVID strain in UK

- Concerns that measures against mutant coronavirus will tighten further slow oil demand rebound, pushing prices down
22.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Eni expands operations in UAE's largest offshore field

- Eni will operate concession for oil and gas exploration in area covering approximately 11,660 square kilometers
22.12.2020 Natural Gas , Oil , Europe , Middle East-Africa

US oil rig count rises by 5 for week ending Dec. 18

- Oil rigs increase by 5 to 263, from 258 the previous week
20.12.2020 Oil , Americas , General

Brent oil price up 1.68% for week ending Dec. 18

- Vaccine campaigns in UK, Canada and US support prices while negative 2021 outlook exerts downward price pressure
19.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Highlights of global energy market in 2020

- Oil price volatility due to Covid-19, energy demand slump and acceleration in renewables are hot topics in 2020
21.12.2020 Oil , Renewable , Energy Diplomacy , World

Highlights of Turkish energy market in 2020

- Black Sea gas discovery, tensions in E. Med., TurkStream coming online and records in renewables were hot topics in 2020
21.12.2020 Natural Gas , Oil , Renewable , Coal , Energy Diplomacy , Turkey

Oil prices down over weak demand fears

- Many European countries impose either strict restrictions, night curfews or lockdowns, fueling investor oil demand concerns
18.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices reach 9-month high over US stocks drop

- US commercial crude oil inventories rise by 3.1 million barrels relative to market expectation of 3.5 million-barrel fall
18.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US crude oil inventories fall for week ending Dec. 11

- Commercial crude oil stocks decreased by 3.1 million barrels against market expectation of 3.5-million barrel fall
18.12.2020 Oil , World , Americas

US sanctions 4 entities over Iran's petrochemical sale

- Treasury Dept. blacklists companies for 'facilitating export of Iranian petrochemical products'
17.12.2020 Oil , Americas , Middle East-Africa

Oil prices drop over estimated rise in US crude stocks

- However, positive developments in COVID-19 vaccine applications have prevented further declines
18.12.2020 Oil , World

Global oil demand to increase 6.2% in 2021: IEA

- As mass vaccination will take several months, impact on oil demand will not be soon, IEA says
16.12.2020 Oil , International Organization , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices drop slightly over lingering demand fears

- Tightening restrictions and renewed lockdowns in Europe reignite demand fears that were simmered down over vaccine rollouts
16.12.2020 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Global oil demand to increase 6.6% in 2021: OPEC

- Transportation and industrial sectors are projected to lead oil demand growth in 2021, says OPEC
16.12.2020 Oil , International Organization , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices increase over vaccine optimism

- Following the UK and Canada, the US also starts vaccine rollout amid renewed restrictions worldwide against coronavirus
15.12.2020 Oil , World

US oil rig count rises by 12 for week ending Dec. 11

- US sees drop of 409 oil rigs from one year ago
14.12.2020 Oil , Finance , General
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