Tag Archives: US Oil

OPEC Risks Lower for Longer – Bloomberg

  Oil is set for its first weekly gain in a month after EIA data showed U.S. inventories dropping the most this year. But it’s an unexpected surge in U.S. production that’s set to derail OPEC’s plans of phasing out its output cutting regime by June. Bloomberg’s Will Kennedy reports on “Bloomberg Daybreak: Europe.” (Source: […]

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US Oil Rig Count Rises for 7th Straight Week, Baker Hughes Says

The US oil-rig count rose by seven to 609 this week, according to oilfield-services giant Baker Hughes. The gas rig count fell by five to 146. With miscellaneous rigs unchanged at one, the total rig count rose by two to 756. Last week the tally of oil rigs rose by six. West Texas Intermediate crude oil futures […]

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Rig Count Hops Up 12; Permian Basin Again Drives Rise

The number of oil and gas rigs in U.S. fields rose again this week, up 12 or about 170 over the past three months. This week’s count marks the fourth increase in a row, and a boom of more than 335 rigs since the count fell to its recent low, last spring. U.S. oil drillers […]

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Oilfield Rental Equipment

Domestic Oil Boom Is Powering Oilfield Rental Market To New Heights

Many new and veteran oil drilling companies are leveraging equipment rentals to help secure new drilling contracts The United States has increased oil production from just under 5 million barrels per day in 2008, to just shy of 8 million barrels per day during 2013. This massive increase in resource extraction is the result of […]

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