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North America Adds 1 Rig Week on Week

Of the total U.S. rig count of 547, 529 rigs are categorized as land rigs, 15 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 418 oil rigs, 120 gas rigs, and nine miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 480 horizontal rigs, 55 directional rigs, and 12 vertical rigs.

USA Crude Oil Inventories Rise Week on Week

Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on April 18, the report showed. Total petroleum stocks were down 0.3 million barrels week on week and up 5.9 million barrels year on year, the report revealed.

USA Crude Oil Inventories Increase Week on Week

Crude oil in the SPR stood at 397.0 million barrels on April 11, 396.7 million barrels on April 4, and 364.9 million barrels on April 12, 2024, the report revealed. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on April 11, the report highlighted. Total petroleum stocks were down 1.8 million barrels week on week and up 3.2 million barrels year on year, the report outlined.

North America Cuts 35 Rigs Week on Week

Week on week, the U.S. land rig count, offshore rig count, and inland water rig count remained unchanged, the count highlighted. The U.S. gas rig count decreased by one, its oil rig count increased by one, and its miscellaneous rig count remained unchanged, week on week, the count showed. Baker Hughes’ count revealed that the U.S. horizontal rig count decreased by one week on week, while the country’s directional rig count increased by one and its vertical rig count remained unchanged during the period.