{"id":25729,"date":"2017-09-16T08:34:32","date_gmt":"2017-09-16T13:34:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25729"},"modified":"2017-09-16T08:34:32","modified_gmt":"2017-09-16T13:34:32","slug":"u-s-oil-rig-count-continues-to-collapse","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25729","title":{"rendered":"U.S. Oil Rig Count Continues To Collapse"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/US-Oil-Rig-Count-Continues-To-Collapse.html\">U.S. Oil Rig Count Continues To Collapse<\/a><\/h3>\n<picture><img decoding=\"async\" class=\"singleArticle__articleImage\" title=\"Bakken\" src=\"http:\/\/cdn.oilprice.com\/a\/img\/content\/article\/718x300\/9649292c72b213f6adc86f25a0121e6e.jpg\" alt=\"Bakken\" \/><\/picture>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>The number of active oil and gas rigs in the United States <a href=\"http:\/\/phx.corporate-ir.net\/phoenix.zhtml?c=79687&amp;p=irol-rigcountsoverview\">fell<\/a> this week by 8 rigs.<\/p>\n<p>The total oil and gas rig count in the United States now stands at 936 rigs, up 430 rigs from the year prior, with the number of oil rigs in the United States decreasing by 7 this week and the number of gas rigs decreasing by 1. Canada, meanwhile, added 10 oil rigs for the week ending September 15.<\/p>\n<p>Oil rigs in the United States now number 749\u2014333 rigs above this time last year.<\/p>\n<p>Although the number of oil rigs are still up significantly year on year, the increases slowed in the second quarter, and have reversed in the third. The first quarter 2017 saw 137 oil rigs added in the United States, while the second quarter 2017 saw 97 rigs added. In stark contrast, the third quarter, for which there are still two weeks to go, has seen the total number of rigs decrease by 7.<\/p>\n<p>The spot price for WTI fell earlier on Friday, down 0.16 percent to $49.81 at 11:53am. Brent crude, however, was trading up 0.27 percent on the day at $55.62.<\/p>\n<p>Prices have been volatile in August and so far in September, with WTI going as low as $45.58 on August 31, and as high as $50.50, which it reached yesterday\u2014the highest level we\u2019ve seen in six weeks\u2014as global production declined <a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/WTI-Breaks-50-As-Bullish-Sentiment-Builds.html\">720,000<\/a> barrels per day in August compared to July, according to OPEC\u2019s Monthly Oil Report. It was the first drop in four months.<\/p>\n<p><a class=\"lightbox\" href=\"http:\/\/cdn.oilprice.com\/\/images\/tinymce\/Rug.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/cdn.oilprice.com\/\/images\/tinymce\/Rug.jpg\" width=\"450\" height=\"380\" \/><\/a><\/p>\n<p>(Click to enlarge)<\/p>\n<p>At 10 minutes after the hour, WTI was trading at $49.69 with Brent crude trading at $55.40.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Oil Rig Count Continues To Collapse The number of active oil and gas rigs in the United States fell this week by 8 rigs. The total oil and gas rig count in the United States now stands at 936 rigs, up 430 rigs from the year prior, with the number of oil rigs in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[11731,16025,5332,827,1451],"class_list":["post-25729","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-julianne-geiger","tag-oil-and-gas-rig-count","tag-oilprice-com","tag-united-states","tag-west-texas-intermediate"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25729"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25729\/revisions"}],"predecessor-version":[{"id":25730,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25729\/revisions\/25730"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}