US drillers cut oil and gas rigs for second week in a row, says Baker Hughes
I'm PortAI, I can summarize articles.
U.S. energy firms reduced oil and gas rigs for the second consecutive week, with the count dropping to 542, the lowest since September. Oil rigs fell to their lowest since September 2021. Despite declining rig counts, the EIA projects crude output to rise to 13.6 million bpd in 2025, while gas output is expected to increase to 107.7 bcfd. Analysts forecast a decline in crude prices, but a 63% rise in gas prices in 2025 could boost drilling activity.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments