U.S. active oil rigs count sharply increased

Baku. 12 February. REPORT.AZ/ The number of active oil wells in the United States increased by 26 units (3.4%) during February 3-9 and amounted to 791. Report informs citing the Baker Hughes.

According to the information, during the reporting week the number of active gas wells increased by 3 (1,66%) and made 184. Finally, the total number of operating oil and gas wells increased by 29 (3,06%) and reached 975 units.

Compared with the same period last year, the number of active oil wells in the United States increased by 200 (33,8%) the number of active gas wells by 35 (23,5%), the total number of operating oil and gas wells increased by 234 (31,6%).

Notably, 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 2.5 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 50.8% below the record high.

Oil production in U.S. increased by 332,000 barrels or by 3,34% from January 27 to February 2, and hit the record level of 10,251 mln bbl / day.

Analytical Group of Report believes, the price of oil is expected to fluctuate in 55-73 USD/barrel range within the next 3-6 months.