US rigs continue decline, production steady, demand recovering from April lows

摘要

HOUSTON (ICIS)--New US shale drilling activity continues to be curtailed as producers monitor spending, while crude price gains appear to be capped around $40/bbl. The oil rig count fell for the 17th straight week, according to the weekly drilling rigs report by Baker Hughes. US crude production held steady at 11.0m bbl/day for the third consecutive week, ended 3 July, according to the US Energy Information Administration (EIA) weekly supply estimates.