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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
US oil production could decline about 1mb/d by the second half of 2025 unless rig counts rise, according to Adam Rich at energy investor Vaughan Nelson cited by Bloomberg.
- More rigs will be needed to offset declining productivity from existing wells and oil prices closer to $90/bbl may be required for a recovery in the rig count.
- “We could probably keep the 12-13 million barrel-per-day level for six to nine more months, but if we don’t see rig counts really start moving up here, that’s going to be a big problem.”
- Baker Hughes data shows the number of US oil rig count has fallen to the lowest level since January 2022. The rig count saw a renewed decline during May down to 492 compared to an April high of 511 and a high of 627 in November 2022.
- Many US producers are suggesting moderate growth and still prioritizing shareholder returns.
Source: Baker Hughes / Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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