US Oil, Gas Drillers Take the Foot Off the Gas As Prices Climb
Crude Oil Prices Today | OilPrice.com • • business
Key Points:
- The total number of active drilling rigs in the U.S. dropped to 545 this week, down 38 from the same time last year, with oil rigs steady at 411 but gas rigs decreasing by 3 to 127.
- U.S. crude oil production averaged 13.596 million barrels per day for the week ending April 3, falling 266,000 bpd short of the all-time high.
- The Permian Basin rig count remained unchanged at 242, 47 rigs fewer than last year, while the Eagle Ford rig count declined by 2 to 43, down 4 from a year ago.
- Oil prices showed mixed movement, with Brent crude trading at $97.04 per barrel, down over $10 from last week, and WTI at $98.72, still higher than Brent.
- Primary Vision’s Frac Spread Count, indicating well completion activity, increased by 7 crews after a recent decline, signaling a potential uptick in drilling completions.
