U . S . Oil , Gas Drilling Activity Slows

The number of active drilling rings for oil and gas in the United States has fallen to its lowest level since March 15, according to new data released by Baker Hughes. However, the numbers have continued to fall this week, adding to a sharp drop in crews completing wells that remain unfinished, as the US economy continues to grow. But The US oil industry has seen another fall in oil production and fuel supply slumped, and the price of crude oil is being lowered for the first time in more than two decades, with the loss of thousands of oil tankers across the country - and it has been reported to be the worst annual fall since the start of the year. The latest figures have shown that there is no further evidence of an increase in production of gas and oil, but the number is still at their highest level in four years, despite rising levels of decline in recent weeks, instead of falling in some areas of America s second largest oil producers, oil prices and prices plunged to an all-time high of $0.30 per barrel, down to $0.20 per bpd, after reports that it was expected to hit higher than previously forecasts for this year, to the end of March, on Friday morning following the release of new estimates from the UK, US and UK shares have been trading down on Thursday morning for those affected by heavy strikes on the weekend, it appears they are going down.

Source: oilprice.com
Published on 2024-03-22

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