Sunday, January 19, 2025

Chart of the Week: Rig Count by Region

By Andrew Nichols: EnerCom In the past 10 years, we have seen many shifts in the number of active oil rigs in the top 7 regions in the United States. Before 2016, when the price of oil dropped to $29 a barrel, most regions stayed about the same except for an increase in the Eagle Ford region and a large

Crude falls 4% more on surging Covid cases, following worst week since October for oil- oil and gas 360

Crude falls 4% more on surging Covid cases, following worst week since October for oil

CNBC Oil prices slid Monday, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown. West Texas Intermediate crude futures declined 3.6% to trade at $65.85 per barrel. The contract traded as low as $65.15 during the session. International benchmark Brent crude declined 3.5% to $68.21 per barrel. “The biggest challenge for oil markets remains the

Saudi Aramco Q2 profit soars on higher prices, demand recovery- oil and gas 360

Saudi Aramco Q2 profit soars on higher prices, demand recovery

Reuters DUBAI – Saudi Arabian state oil producer Aramco (2222.SE) reported a near four-fold rise in second-quarter net profit on Sunday, beating expectations and boosted by higher oil prices and a recovery in oil demand. Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets. Aramco