Canada Weekly Rig Count Down 17 to 88

Baker Hughes Reports Biggest Cut Of Oil Rigs In 3 Years

Baker Hughes Reports Biggest Cut Of Oil Rigs In 3 Years

West Texas Intermediate crude for May delivery was up 80 cents, or 1.3%, at $60.10 a barrel, little changed from its level ahead of the data. The high water mark for oil rigs reached 888 in November 2018.

Gas rig count 190 vs 192 last week. This week's numbers represent the largest weekly rig cut in three years.

Govt hikes petrol price by Rs6 a litre
A statement on QP website showed that premium grade petrol will cost QR 1.80 in April, 25 dirhams more than March. Similarly, light diesel oil price and kerosene oil price will be Rs80.54 and Rs89.31 per litre respectively.

The number of rigs operating in US oil fields fell by eight to 816 this week, and more than half of them were located in the Permian Basin region of western Texas and southeastern New Mexico. Current activity is almost even with that of one year ago, and today's rig count is only up 13 year-over-year. Global supply in February was 99.15 million bpd, according to OPEC. The U.S. Energy Information Administration says the U.S. will produce a record 12.4 million bpd of oil in 2019 and up that to 13.2 million bpd in 2020.

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