U.S. active oil rigs count increased again

Baku. 25 November. REPORT.AZ/ The number of active oil wells in the United States increased by 9 units or 1.2% from November 17-24 and reached 747.

Report informs citing the Baker Hughes.

According to the information, during the reporting week the number of active gas wells decreased by 1 or 0.6% and made 176.

Finally, the total number of operating oil and gas wells increased by 8 or 0.9% and reached 923 units.

Compared with the same period last year, the number of active oil wells in the United States increased by 273 or 57.6%, the number of active gas wells by 58 or 49.1%, the total number of operating oil and gas wells increased by 330 or 55,6%.

On May 25, 2016, the number of active oil wells in the United States was 316, which is the minimum limit for the last 7 years. At present, the number of active oil wells is at least 2.36 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 53.6% below the record high.

Analytical Group of Report believes, in the next 3-6 months, the price of one barrel of oil in the world market will range between $ 50-65. "The oil price at about $ 50 / barrel, will slow down growth in the number of active oil wells in the US and at level above $ 65 / barrel will accelerate the increase in the number of wells”.

Notably, on August 11 this year, the number of active oil wells in the US reached 768 and currently, the number of wells is 21 or 2.7% lower than this level. Oil production in the US this week rose by 13,000 barrels or by 0.1% and reached 9,658 mln barrels / day and hit a record high. In the short term, this figure is expected to exceed $ 10 mln barrels / day.