U.S. active oil rigs count exceeds 800

Baku. 24 March. REPORT.AZ/ The number of active oil wells in the United States has exceeded 800. The number of active oil wells in the United States increased by 4 units (0.5%) during March 17-23 and amounted to 804. Report informs citing the Baker Hughes.

In the previous reporting week, the number of active wells increased by 4 units.

During the reporting week the number of active gas wells increased by 1 (0,53%) and made 90. Finally, the total number of operating oil and gas wells increased by 5 (0,5%) and reached 995 units.

Compared with the same period last year, the number of active oil wells in the United States increased by 152 (23,31%) the number of active gas wells by 186 (22,9%), the total number of operating oil and gas wells increased by 186 (22,99%).

Notably, on May 25, 2017, the number of active oil wells in the United States was 316, which is the minimum limit for the last 8 years. At present, the number of active oil wells is 2.54 times more than the minimum. This figure was at record levels in October 2014 with 1 609 units. At present, the number of wells is 2 times less than the record high.

Oil production in U.S. increased by 31,000 barrels or by 0,3% during March 10-16, and hit the record level.

Analytical Group of Report believes, the price of oil is expected to fluctuate in 55-73 USD/barrel range within the next 6 months.