Author of Scott Disavino
(Reuters) -Energy companies have added oil and natural gas this week for the fourth week in a row to the highest level since June, she said in her carefully followed report on Friday.
Number of oil and gas, an early indicator of future production, increased by four to 592 in the week until February 21st.
Despite the increase in this week, Baker Hughes said the total number was still reduced by 34, or 5% below this time last year.
Baker Hughes said oil appliances have increased by seven to 488 this week, which is the highest since September, while gas appliances have fallen by two to 99.
Drillers added five plants to Oklahoma, which is a total number of up to 49, which is most from May 2023, while in Western Virginia they have added one equipment, which is a total of 11, which is the highest since August 2023.
The number of oil and gas number decreased by about 5% in 2024 and 20% in 2023, as the lower oil and gas prices in the last few years have encouraged the energy companies to focus more on increasing shareholder refund and paying debt rather than increasing production.
Although analysts predict that raw oil oil prices in the US will remain unchanged in 2025, the US Energy Information Directorate (EIA) has been projected to increase oil production from a record 13.2 million barrels per day (BPD) in 2024. , 6 million BPD in 2025.
On the gas side, the EIA has projected 73% increase in the price of a gas spot in 2025 years, it would encourage manufacturers to increase the drilling of activities this year after 14% of the price drop in 2024. Covid- 19 pandemic reduced fuel demand in 2020. [NGAS/POLL]
The projected production of gas in the EIA will increase to 104.6 billion cubic rates per day (BCFD) 2025, compared to 103.1 BCFD in 2024 and a record 103.6 BCFD in 2023.
(Reporting Scott Disavinoedding Marguerita Choy)
