The dramatic increase in drilling in the United States was interrupted by the rise in oil prices


Oil prices on the ICE exchange on Monday moved to decrease after three days of growth. The price of a barrel of WTI crude oil on 23 January, fell to $52,8 (on 0,79% below level of closing of the previous auction), the price of a barrel of Brent to $55,16 (minus 0.59 percent).

Bloomberg experts attribute the change in trend with a sharp increase in the number of employees in North America drilling rigs. According to Baker Hughes, for the week from 14 to 20 January 2017 in the United States was commissioned 29 new oil installations, which was the highest figure since April 2013. In Canada, the same week the number of pumps oil drilling grew by 23 pieces.

According to the January 20 in the US, there were 551 drilling, which was carried out oil production, 41 installation, or 8% higher than a year earlier. In Canada, 20 January the oil was produced at 193 drilling, during the year the number of working units increased by 44% (+59 units).

Surveyed by Bloomberg experts believe that the increase in oil production in North America offset the decline in production in the framework of an agreement between OPEC and some not included in the cartel countries.

“Shale oil miners from the US at a fast pace put into operation all new drilling. Oil probably will reach $50 than to $60 [per barrel]”, — considers the head commodity analysts at Saxo Bank OLE Slot Hansen.

By 13:00 MSK cost of a barrel of Brent crude on the ICE futures exchange was $of 55.23, 0.47% below the closing level of the previous trading session.

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