Crude oil, Gas prices today

London, August 13, 2024, (Oilandgaspress) –– The Organization of the Petroleum Exporting Countries has reduced its forecast for global oil demand growth this year, citing weakness in China, the world’s largest crude importer.

OPEC said, in a monthly report, that world oil demand will rise by 2.11 million barrels per day in 2024, down from growth of 2.25 million bpd expected last month.

Natural gas prices in Europe have been at their highest level since December 2023 due to concerns about supplies through Russian pipelines, which is driving up maritime imports, according to Bloomberg.

Oil and Gas BlendsUnitsOil Price US$/bblChange
Crude Oil (WTI)USD/bbl$79.66Up
Crude Oil (Brent)USD/bbl$81.87Up
Bonny Light 09/08/24USD/bbl$82.80
DubaiUSD/bbl$77.39Down
Natural GasUSD/MMBtu$2.18Down
Murban CrudeUSD/bbl$80.50Up
OPEC basket 12/08/24USD/bbl$79.80Up
At press time 13 August 2024

Baker Hughes Rig Count: U.S. +2 to 588 Canada -2 to 217

U.S. Rig Count is up 2 from last week to 588 with oil rigs up 3 to 485, gas rigs down 1 to 97 and miscellaneous rigs unchanged at 6.
Canada Rig Count is down 2 from last week to 217, with oil rigs down 3 to 147, gas rigs unchanged at 69 and miscellaneous rig up 1.

International Rig Count is down 23 rigs to 934

The Worldwide Rig Count for July was 1,713, up 7 from the 1,707 counted in June 2024, and down 106, from the 1,819 counted in July 2023.

RegionPeriodRig CountChange
U.S.A09 August 2024588+2
Canada09 August 2024217-2
InternationalJuly 2024934.-23
Baker Hughes
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