24/08/2014
Directing exploration companies to more profitable fields
The number of American oil extraction platforms decline since 2012
The number of oil rigs in the United States during the past week at its fastest rate since 2012 with low crude oil prices to the lowest level in seven months and guiding oil exploration companies equipment to more lucrative fields. The data indicated that Baker Hughes consulting to the decrease in the number of oil rigs in the United States during the past week by 25 platform to 1564 platform which is less than the number of platforms since 21 December 2012. At the same time, the number of gas extraction platforms to its highest level since 5 months, while prices continued to WTI crude is standard for us oil decline for the fifth consecutive week, the longest period of continuous decline of prices for nine months. According to ' German ', the Bloomberg News Agency referred to the decline in oil prices is threatening to stop the growth in the number of fuel extraction platforms at a time when power producers used a combination of horizontal drilling and hydraulic fracturing to extract large amounts of oily rocks in the distance from North Dakota to Texas.
The extraction of oil from oil shale has led to increased domestic production of oil to its highest level in 27 years with the decline in US imports of oil to its lowest level since 1993, and the number of platforms has reached its highest level during the previous week. And Futures fell to us crude recorded a fifth straight weekly losses, while Brent under pressure from abundant supplies and the rise of the dollar, despite rising tensions between Russia and Ukraine. And the price of us crude contracts delivered October 31 cents to $ 93.65 a barrel at the settlement after he lost more than a dollar the day before yesterday, and US crude ended the week down 3.9 percent, a fifth straight weekly loss, the longest wave losses since November 2013.
And Brent futures 34 cents to $ 102.29 per barrel at settlement to fall for the second straight session, traders and analysts said that rising oil inventories in the US crude contract delivery point at Cushing, Oklahoma pushed prices down after falling stockpiles in Cushing earlier this month to its lowest level in six years. It seems that the increased production may ease fears abroad also, in Libya continued to increase production after the reopening of several ports in the East of the country, Iraqi exports remains near record levels despite the conflict in the North of the country. The dollar's rise also pressured on oil, which makes up the US currency dollar-denominated commodities more expensive for holders of other currencies.
