U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fifth week in a row, energy services firm Baker Hughes said in its closely followed report on Friday.
Aug 11 - U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fifth week in a row, energy services firm Baker HughesThe oil and gas rig count, an early indicator of future output, fell by five to 654 in the week to Aug. 11, the lowest since March 2022. , ,Baker Hughes said that puts the total rig count down 109 rigs, or 14%, below this time last year.
After falling for eight weeks in a row, the number of oil rigs held steady at 525 this week, while gas rigs fell five to 123, their lowest since February 2022., and were up about 3.1% so far this year after gaining about 7% in 2022. U.S. gas futures , meanwhile, have plunged about 40% so far this year after rising about 20% last year.was on track to rise from 11.9 million barrels per day in 2022 to 12.8 million bpd in 2023 and 13.1 million bpd in 2024, according to projections from the U.S.
Despite the drop in gas prices, U.S. gas production was on track to rise from a record 98.13 billion cubic feet per day in 2022 to 103 bcfd in 2023 and 104.1 bcfd in 2024, according to EIA's projection.Our Standards:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sophia Bush and Grant Hughes Divorce RevealedSophia Bush filed for divorce from Grant Hughes shortly after their first wedding anniversary. The news came after Hughes posted a heartfelt anniversary message on social media. Bush also shared a cryptic message about relationships on Instagram.
Read more »
Sophia Bush, Grant Hughes Divorce Docs Reveal Date of SeparationSophia Bush filed for divorce from Grant Hughes weeks after the estranged couple celebrated their first wedding anniversary
Read more »
Jim Beam Is Bringing Back the Fan Favorite 13-Year-Old Baker’s BourbonMake way for Baker's Bourbon. The single-barrel, aged 13 years, is making a comeback. 🥃
Read more »
Trump campaign brings in longtime political operative to lead Florida effortBrian Hughes has spent the past eight years working with Jacksonville's GOP mayor.
Read more »
Baker Mayfield getting Week 1 start for Buccaneers: InsiderBaker Mayfield reportedly has won the Buccaneers’ quarterback competition over Kyle Trask.
Read more »
People will be allowed in homes Friday, Hawaii governor saysHawaii Gov. Green announced that residents will be allowed into their homes, but he did not give a timeline as to when that would happen.
Read more »