U.S. drillers reduced the number of drilling rigs to a minimum for more than six years, according to Financial Times, citing data from Baker Hughes, specializing in the oil service.
According to Baker Hughes, last week suspended the operation on 26 rigs, thus their total number was reduced to 413. The last time this level was recorded in December 2009.
The reduction in the number of drilling comes amid a recent report from the energy information Administration, which showed that U.S. oil inventories surge of imports rose to a new week high, reports the Financial Times.
As noted by Reuters, some analysts predict that the number of rigs will drop in the coming months, and will be restored at the end of this year with the expectation of growth in oil prices.
The number of drilling rigs reached to US a historical record of 1609 pieces — in October 2014, when a barrel of Brent cost just above $90. Further, the number of installations began to rapidly decline. In the spring of 2015 oil prices slightly recovered some of the drop, and since the beginning of the summer (with a lag of two to three months) have been a growing number of rigs. At the end of August in the oil market again prevailed a tendency to decrease, following this, began to fall and the number of installations. At the end of January 2016 it is reduced to 498 — a minimum since March 2010.