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US energy companies added backhoes this week for the first time in three weeks, but growth has slowed in the past month as crude prices fell from late May to late June. This week at its highest level since November 2014.
Baker Hughes Energy Services said Friday in its closely watched weekly report that US energy companies have added five oil diggers in the week ending July 6, bringing the number total Excavators at 863.
The total number Shovels in the United States, an early indicator of future production, are much higher than a year ago when 763 diggers with energy companies increased their production for enjoy higher prices.
The average price of US oil contracts since the beginning of the year is $ 65.71 per barrel compared to an average of $ 50.85 in 2017 and $ 43.47 in 2016.
US Energy Information Administration said last month that annual oil production is expected to reach a record 10.8 million barrels per day in 2018 and 11.8 million barrels per day in 2019, from 9.4 million barrels a day. barrels per day in 2017.
WOV According to federal data, the current standard production level is 9.6 million barrels per day and was recorded in 1970.
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