OPEC daily basket price at $82.07/bl, 03 Jan. 2023
Oil prices crashed early on Wednesday, with Brent Crude falling below the $80 a barrel mark again, as concerns about immediate global oil demand intensified with soaring Covid cases in China and slowing economies globally.The market is currently focused on a short-term deterioration in demand as China struggles with Covid-19, milder weather reduces demand for heating fuels Read More
| Oil and Gas Blends | Units | Oil Price $ | change |
| Crude Oil (WTI) | USD/bbl | $73.54 | — |
| Crude Oil (Brent) | USD/bbl | $78.58 | — |
| Bonny Light | USD/bbl | $82.60 | — |
| Saharan Blend | USD/bbl | $82.73 | — |
| Natural Gas | USD/MMBtu | $4.17 | — |
| OPEC basket 03/01/23 | USD/bbl | $82.07 | — |
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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