‎US rig count sees biggest decline since November 2023: Baker Hughes

03/05/2024
Argaam Exclusive

The US drilling rig count fell seven units to 499 in the week ended May 3, Baker Hughes energy services firm said in its closely followed report on Friday.

This is the biggest decline since Nov. 3, 2023, when it fell by eight units.

Meanwhile, the gas rig count fell three units to 102 in the week, its lowest level since Nov. 5, when it dropped by 100 units.

Oil and gas exploration platforms – USA

Item
Year Before
Last Week
Current
Weekly Change
Yearly Change

No. of Rig Count
588
506
499
(7)
(89)

Gas
157
105
102
(3)
(55)

Oil & Gas
745
611
601
(10)
(144)

Changes in the number of platforms – USA

Name

Price

Change (value)Change (%)

Brent Crude Oil

82.96

(0.71)

(0.85 %)

Nymex

78.11

(0.84)

(1.06 %)

Natural Gas

2.14

0.11

5.27 %

Gold

2,308.60

(1.00)

(0.04 %)

Silver

26.69

(0.14)

(0.52 %)

High Grade Copper

4.56

0.07

1.61 %

Iron Ore

118.03

(0.05)

(0.04 %)

Aluminum

2,546.00

21.50

0.85 %

LEAD

2,215.00

24.00

1.10 %

Zinc

2,906.00

1.00

0.03 %

Steel

796.00

(3.00)

(0.38 %)

Wheat (CBOT)

622.50

18.20

3.02 %

Corn (CBOT)

460.25

0.40

0.09 %

Coffee (ICEUS)

200.75

(5.35)

(2.60 %)

Whole Milk Powder

3,887.50

12.50

0.32 %

Skim Milk Powder

2,525.00

(50.00)

(1.98 %)

Refining margins

11.64

1.76

17.81 %

Fujairah Fuel Pric (mt) ($)

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VLCC “TC/1Year” ($)

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–
–

Dry Bulk Panamax ($)

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