The number of active oil and gas rigs in the United States remained unchanged last week, reaching 603 rigs. This figure represents an increase of 57 rigs compared to the same period last year. Meanwhile, the number of active oil rigs rose by 2 rigs to 462, which is 48 rigs more than last year.
Changes in Gas Rigs
At the same time, the number of active gas rigs decreased by 2 rigs to 130, which is 5 rigs more than the same period last year. Additionally, the number of mixed rigs remained steady at 11. These statistics reflect the fluctuations in the U.S. oil and gas market, which is influenced by various factors.
Read more: Brent crude oil price reached $117.62
Increase in Crude Oil Production
According to recent data, U.S. crude oil production increased in the week ending October 23, reaching an average of 13.992 million barrels per day (bpd). This increase from 13.269 million barrels last week represents an increase of 348,000 barrels compared to last year. This data indicates the high production potential of oil in the United States and its impact on the global market.
Furthermore, the number of active rigs in the Permian Basin remained steady at 272 rigs, which is 21 rigs more than last year. In the Eagle Ford field, the number of rigs decreased by 1 rig to 50, which is 7 rigs more than the same period last year.
On Friday, before the data release, oil prices also increased, with Brent crude reaching $117.58 per barrel, indicating a 2.35% increase. West Texas Intermediate (WTI) oil prices also rose by 2.09% to $104.13 per barrel, which is nearly $1.50 more than last week.
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