{"id":7309,"date":"2015-04-15T05:48:29","date_gmt":"2015-04-15T10:48:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7309"},"modified":"2015-04-15T05:48:29","modified_gmt":"2015-04-15T10:48:29","slug":"rig-count-data-shows-gulf-states-cranking-up-pressure-on-the-u-s","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7309","title":{"rendered":"Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S."},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Crude-Oil\/Rig-Count-Data-Shows-Gulf-States-Cranking-Up-Pressure-On-The-U.S.html\" target=\"_blank\">Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S.<\/a><\/h3>\n<p>The global rig count statistics published by\u00a0<a href=\"http:\/\/www.bakerhughes.com\/rig-count\">Baker Hughes<\/a>\u00a0provide a crucial industry activity indicator and some of the most up to date industry statistics available. This is a short report updating international statistics to March 2015 and US statistics to 10 April 2015.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/oilprice.com\/images\/tinymce\/euan1.png\" alt=\"MiddleEastRigCount\" width=\"450\" height=\"398\" \/><\/p>\n<p><strong>Figure 1<\/strong>\u00a0<em>The Middle East OPEC gulf states continue to confound expectations by increasing their rig count and drilling, evidently intent on keeping the oil market over-supplied and the oil price suppressed. Oil rig count for these 4 countries increased 6 to 161 for the month of March. Saudi oil production hit a new record of 10.3 Mbpd in March.\u00a0<a href=\"http:\/\/www.arabnews.com\/economy\/news\/729616\">Oil Minister Ali Al-Naimi<\/a>\u00a0wants price stability and order to return to the market but on OPEC\u2019s terms.<\/em><\/p>\n<p><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Could-We-Finally-Have-A-Meaningful-Oil-Price-Rally.html\"><strong>Related:\u00a0Could We Finally Have A Meaningful Oil Price Rally?<\/strong><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/oilprice.com\/images\/tinymce\/chinga.png\" alt=\"WorldRIgCOunt\" width=\"450\" height=\"361\" \/><\/p>\n<p><strong>Figure 2<\/strong>\u00a0<em>The international oil rig count peaked at 1080 in July 2014 and has since fallen 104 (10%) to 976 units in March 2015. This is as yet a very muted response to what is a full blown industry crisis. It does take longer for offshore drilling to wind down and it is possible that companies with rigs on contract have simply parked them for the time being.<\/em><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p><b>\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rig Count Data Shows Gulf States Cranking Up Pressure On The U.S. The global rig count statistics published by\u00a0Baker Hughes\u00a0provide a crucial industry activity indicator and some of the most up to date industry statistics available. This is a short report updating international statistics to March 2015 and US statistics to 10 April 2015. Figure [&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":[184,349,588,600,722,723,3450],"class_list":["post-7309","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-crude-oil","tag-gas","tag-oil","tag-opec","tag-shale-gas","tag-shale-oil","tag-us-oil-rig-count"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7309","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=7309"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7309\/revisions"}],"predecessor-version":[{"id":7310,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7309\/revisions\/7310"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}