Bearish Sentiment Continues to Dominate Oil Markets
London, July 30, 2024, (Oilandgaspress) –– Oil prices continued to fall on Tuesday morning. The rising geopolitical risk in the Middle East and the potential of a supply disruption in Venezuela seems to have no direct effect on oil prices. Concerns about demand in China, the world’s largest crude importer remains. Organization of Petroleum Exporting Countries meets later in the week to discuss output levels
| Oil and Gas Blends | Units | Oil Price US$/bbl | Change |
| Crude Oil (WTI) | USD/bbl | $75.13 | — |
| Crude Oil (Brent) | USD/bbl | $78.96 | — |
| Bonny Light | USD/bbl | $86.00 | — |
| Saharan Blend | USD/bbl | $85.61 | — |
| Natural Gas | USD/MMBtu | $2.00 | — |
| Murban Crude | USD/bbl | $78.63 | Up |
| OPEC basket 29/07/24 | USD/bbl | $80.66 | — |
Baker Hughes Rig Count:
| Region | Period | Rig Count | Change |
| U.S.A | 26 July 2024 | 589 | +3 |
| Canada | 26 July 2024 | 211 | +14 |
| International | June 2024 | 957. | +4 |
