OPEC daily basket price at $76.90/bl, 04 Jan. 2023
Russia’s grades from the Arctic – Arco, Arco/Novy Port, and Varandey – have been selling at deep discounts in China and India as the EU embargo and the G7 price cap have further pushed more Russian crude to customers in Asia that have not joined the Price Cap Coalition, according to trade data and sources cited by Reuters. Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $74.34 | Up |
| Crude Oil (Brent) | USD/bbl | $79.46 | Up |
| Bonny Light | USD/bbl | $77.61 | Down |
| Saharan Blend | USD/bbl | $77.15 | Down |
| Natural Gas | USD/MMBtu | $4.09 | Down |
| OPEC basket 04/01/23 | USD/bbl | $76.90 | Down |
Oil’s Price Pain Point Is $65, Says Citigroup’s Morse
Baker Hughes Rig Count
U.S. Rig Count is unchanged from last week at 779 with oil rigs 622, gas rigs 155 and miscellaneous rigs unchanged at 2.
Canada Rig Count is down 12 from last week to 84.
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 30 December 2022 | 779 | 0 |
| Canada | 30 December 2022 | 84 | -12 |
| International | November 2022 | 910 | -1 |
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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