With oil technology developing rapidly and the Trump Administration signaling Continue reading →
One picture shows why crude is vital to our daily lives…..
Continue reading →
Newly released data from Baker Hughes Inc. shows another 48 oil/natural gas rigs taken out of production. The count now stands at 1,310 still active. Down 461 rigs from this time last year.
Oil rig production continues its plunge and gas prices are starting to show that. Here is the latest data on oil rigs:
The number of active U.S. land rigs plunged by 98 this week in one of the biggest declines in the past three decades as fallen oil prices continued to pummel the industry’s drilling ambitions.
Baker Hughes’ 71-year-old U.S. rig count, one of the industry’s go-to indicators of future oil production and demand for rigs, was down by 406 drilling units compared to Feb. 13, 2014. The last time the rig count fell by 98 was in January, 2009 – the two declines are tied for the biggest drops since 1987.
H/T Fuel Fix