Sharp rise in pressure on the number of rigs Oil prices

According to Baker Hughes, the number of oil and gas platforms in operation has increased by 19 after two weeks of heavy losses in the United States, a sign that production in the United States is expected to increase further.

According to the report, the total number of active rigs in the oil and gas sector has increased from 20, from 15 to 831 and the number of gas installations from 4 to 194.

The number of oil and gas platforms is only 22 points compared to this period last year. Oil has only seen an increase of 23 platforms each year, gas platforms have stagnated and various platforms have seen their numbers drop by one year.

Oil prices were trading earlier on Friday, leading to the publication of data, with the first figures for OPEC production in March coming from S & P Platts, which showed that its oil output had dropped by 570,000 barrels a day compared to February levels, while Venezuela and Saudi Arabia sharp drops in production levels.

WTI rose $ 0.49 (+ 0.79%) to $ 62.59, well above the psychologically significant $ 60 a barrel mark. The Brent benchmark was trading up $ 0.48 (+ 0.69%), to $ 69.88 at 12:18 pm EST, after a drop of over $ 70 a barrel more early this week. Prices for both represent a significant gain week after week. Related: Is this the end of the Colorado shale boom?

Despite the decline in the number of rigs in operation, crude oil production in the United States for the week ending March 29 was 12.2 million barrels, a new record.

Unlike the United States, the number of active rigs in Canada decreased this week. The total number of oil and gas platforms in Canada has decreased by 20, after last week's, to 68, 43 fewer platforms than last year, the oil industry. Canada continues to face fierce battles for its limited pipeline capacity. necessary to put its heavy crude on the market and set production ceilings to prevent Western Canadian Select prices from continuing to decline.

At 13:09 Eastern Daylight Time, WTI advanced 0.87% (+ $ 0.54) to $ 62.64. Brent is trading up 0.78% (+0.54 USD) to 69.94 USD per barrel.

By Julianne Geiger for Oilprice.com

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