Thursday, December 5, 2024

Rising Rig Count Streak Now at Ten Weeks

Current total stands at 1,062 U.S. drilling activity continued its steady climb today, adding rigs for the tenth week in a row according to Baker Hughes Weekly Rig Count. Two rigs came online this week, bringing the national total to 1,062, the highest level in more than three years. This week’s increase is the tenth in a row, the longest

LNG

Global LNG Market Exits Oversupply Status, as Rebalancing Starts: WoodMac

Firms sees price levels high enough to facilitate full U.S. LNG utilization Fears about an oversupplied liquefied natural gas (LNG) market are beginning to ease as indications point towards a more modest rebalancing, according to consultancy Wood Mackenzie in its LNG short-term trade and price outlook  for Q2. WoodMac VP Massimo Di Odoardo said that record demand from China absorbed