‎US oil rigs fall to lowest level since January 2022: Baker Hughes

06/10/2023
Argaam Exclusive

The US oil rigs declined by five to 497 in the week ended Oct. 6, General Electric Co.’s Baker Hughes energy services firm said in its closely followed report on Friday.

This marks the lowest level since Jan. 28, 2022, when the US oil rig count reached 495.

Meanwhile, gas rigs increased by two to reach 118.  

Oil and gas exploration platforms – USA

Item
Year Before
Last Week
Current
Weekly Change
Yearly Change

No. of Rig Count
602
502
497
(5)
(105)

Gas
158
116
118
2+
(40)

Oil & Gas
760
618
615
(3)
(145)

Changes in the number of platforms – USA

Commodities

Name

Price

Change (value)Change (%)

Brent Crude Oil

84.58

0.51

0.60 %

Natural Gas

3.34

0.17

5.40 %

Gold

1,845.20

13.40

0.73 %

High Grade Copper

3.63

0.08

2.12 %

Iron Ore

117.74

0.32

0.27 %

Aluminum

2,239.25

9.00

0.40 %

Steel

770.00

(10.00)

(1.30 %)

Wheat (CBOT)

568.25

(10.00)

(1.74 %)

Corn (CBOT)

492.00

(5.40)

(1.09 %)

Coffee (ICEUS)

146.05

0.65

0.45 %

Whole Milk Powder

3,550.00

(12.50)

(0.35 %)

Skim Milk Powder

2,462.50

87.50

3.55 %

Refining margins

7.02

(3.25)

(31.65 %)

Fujairah Fuel Pric (mt) ($)

–

–
–

VLCC “TC/1Year” ($)

–

–
–

Dry Bulk Panamax ($)

–

–
–

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/reports/rigcountssummary/36887?preview=true