US active oil rig count slightly climbs

Baku. 4 December. REPORT.AZ/ The number of active oil wells in the United States increased by 2 units (0.26%) from November 24 till December 1 and reached 749 units.

Report informs citing the “Baker Hughes”.

According to the information, the number of active gas wells increased by 4 units (2.27%) and reached 180 during the reporting period.

Finally, the total number of operating oil and gas wells increased by 6 or 0.65% and reached 929 units.

Compared with the same period last year the number of active oil wells increased by 272 or 0.57%, the number of gas wells by 61 or 51,3%, the number of mixed operating wells by 332 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 2.37 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 53.4% 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 by 19 units or 2.5% lower than this level. Oil production in the US this week rose by 24,000 barrels or by 0.25% and reached 9,682 mln barrels / day and hit a record high. In the short term, this figure is expected to exceed $ 10 mln barrels/day.