US oil rig count down by 6 for week ending Jan. 24

- Number of US oil rigs down by 27 compared to one year ago

home > Oil 25.01.2025 10:47 Duygu Alhan

The oil rig count in the US decreased by 26 this week, oilfield services company Baker Hughes data showed Friday.

The number of oil rigs, an indicator of short-term production in the country, fell to 472 for the week ending January 24.

The number of US oil rigs fell by 27 compared to one year ago.

The price of international benchmark Brent crude stood at $77.54 per barrel at Friday's trading close, while American benchmark West Texas Intermediate (WTI) was at $74.40 a barrel.

By Duygu Alhan

Anadolu Agency

energy@aa.com.tr

US oil rig count down by 6 for week ending Jan. 24

- Number of US oil rigs down by 27 compared to one year ago

25.01.2025 Oil

Oil prices set for weekly decline amid Trump's new energy policies

- Recent ceasefire agreement between Israel and Hamas alleviates geopolitical risks, reducing fears of potential disruptions to global oil supplies and contributing to ongoing price pressures

25.01.2025 Oil

Oil prices rise following US data indicating strong demand

- Statements from US President Donald Trump supporting global interest rate cuts also put upward pressure on prices

25.01.2025 Oil

US crude oil inventories down by 0.2% for week ending Jan. 17

- Daily crude oil production decreases to around 13.47 million barrels per day

25.01.2025 Oil

Oil prices drop amid rising US inventory, uncertainty over Trump's energy policies

- American Petroleum Institute (API) data show rise of 1 million barrels, contrary to market expectations of 2.6 million barrel decline

24.01.2025 Oil

Oil prices down amid Trump's new energy policies, winter pressures

- Trump's policies, including reversing drilling bans and proposing tariffs, continue to ease supply concerns and put downward pressure on oil prices

22.01.2025 Oil

OPEC maintains "proactive strategy" for global oil market stability, Secretary-General says

- ⁠OPEC is always attentive to all fundamental factors affecting oil market to make sure that market remains balanced, according to OPEC chief

23.01.2025 Oil

Oil prices drop amid shifts in Trump policies

- Oil prices fall as shifting US energy policies, global recession fears, and Israel-Hamas ceasefire ease geopolitical risks

22.01.2025 Oil

Oil prices fall as Trump takes office and Gaza ceasefire eases tensions

- Oil prices fall driven by recession concerns, Trump's tariff policies, and reduced Middle East risk following Gaza ceasefire

21.01.2025 Oil

Libya's energy role vital for global markets: OPEC chief

- Haitham Al-Ghais highlights Libya's potential in traditional energy, renewables at Libya Energy and Economic Summit 2025

20.01.2025 Oil

Trump team calls for Maduro's removal amid Venezuela crisis

- Incoming US administration advocates regime change in Venezuela, citing Maduro's political repression

20.01.2025 Oil , Energy Diplomacy

Libyan premier vows stability to expand country’s oil industry

- Abdul Hamid Dbeibeh says Libya’s oil and gas production has been doubled since he took office in 2020

21.01.2025 Oil

US oil rig count down by 2 for week ending Jan. 17

- Number of US oil rigs down by 19 compared to one year ago

19.01.2025 Oil

Oil prices rise amid strong economic data from China, uncertainties over Trump's policies

- Strong macroeconomic data from China pointing a growth of 5% in 2024, supports upwards price movements

19.01.2025 Oil

Libya seeks to revitalize energy sector with fresh exploration activities, projects

- Country to host Libya Energy and Economy Summit between Jan. 18-19 to evaluate investment opportunities in energy-rich nation

16.01.2025 Oil

Oil prices drop amid Gaza cease-fire agreement, increased OPEC production

- Qatari Prime Minister and Foreign Minister Mohammed bin Abdulrahman Al-Thani confirms cease-fire agreement during press conference in Doha, which is set to take effect on Sunday

17.01.2025 Oil

US crude oil inventories down by 0.5% for week ending Jan. 10

- Daily crude oil production decreases to around 13.93 million barrels per day

16.01.2025 Oil

OPEC daily crude output up 0.1% in December 2024

- Global oil demand growth forecast for 2025 remains unchanged at 1.45 million barrels per day

16.01.2025 Oil

IEA: Global oil output up by 20,000 barrels per day in December 2024

- Global oil demand is forecast to reach around 103.96 million bpd in 2025 while production estimated to be 104.7 million bpd

16.01.2025 Oil

US energy agency revises up crude oil price forecasts for 2025

- International benchmark Brent crude estimated to average $74.31 per barrel

16.01.2025 Oil

Oil prices rise with US demand increase, Gaza cease-fire talks cap gains

- Israeli Prime Minister says progress on cease-fire depends on Hamas's response while US administration hopes to finalize deal this week

16.01.2025 Oil

Oil prices slide with profit-taking after rallying to 3-month high

- News reports suggest ongoing conflict between Israel and Palestine close to a ceasefire

15.01.2025 Oil

Syria allows oil imports to address local market demand for fuel

- Move comes as Syria faces severe shortage of oil derivatives in local markets, says Oil Minister Ghiath Diab

14.01.2025 Oil , General

Oil prices rise amid supply concerns over intensified Russia sanctions

- Oil prices reach their highest level since October 2024 over embargo decision against Russian oil producing and exporting companies

13.01.2025 Oil

US oil rig count down by 2 for week ending Jan. 10

- Number of US oil rigs down by 19 compared to one year ago

12.01.2025 Oil

Brent rises nearly 3% following intensified US Sanctions on Russia

- Oil prices surged by nearly 3%, reaching their highest levels in three months, driven by supply concerns after the US administration intensified sanctions targeting Russia’s oil production and exports

13.01.2025 Oil

Oil sees weekly rise as cold weather boosts demand, supply concerns persist

- Reduced supply from Russia and OPEC members and higher demand caused by cold weather raise prices

11.01.2025 Oil

Oil prices rise on strong demand outlook amid cold snap

- US data shows 632,000-barrel drop in heating oil stocks, fueling expectations of higher oil demand

10.01.2025 Oil

Oil down amid economic slowdown in China, weaker US demand outlook

- Lower-than-expected drop in US crude oil inventories suggest demand in world's largest oil consuming country weakened, influencing downward price movements

10.01.2025 Oil

US crude oil inventories down by 0.2% for week ending Jan. 3

- Daily crude oil production decreases to around 14.01 million barrels per day

09.01.2025 Oil

Oil rises on strong US demand, Biden's offshore drilling ban

- Trump's vow to swiftly revoke outgoing president Biden's ban on offshore oil and gas drilling limits further price increase

09.01.2025 Oil

Oil prices disappoint investors expecting a price hike in 2024

- Brent oil starts 2024 at elevated levels amid Middle East conflicts, ends year with a decline of around 3.6%, weighed down by mounting economic concerns

09.01.2025 Oil

Oil prices drop amid recession fears and weaker demand outlook

- US President Joe Biden bans new offshore oil and gas drilling along most US coastlines

08.01.2025 Oil

Oil spill kills dozens of dolphins on Russian Black Sea coast: Animal rescue group

- Delfa Dolphin Rescue and Research Center says it found 61 dead cetaceans with over half killed 'likely due to fuel oil spill'

07.01.2025 Oil

Biden bans offshore oil, gas drilling in most federal waters

- US president's executive action will ban new oil and gas leasing across 625 million acres of US ocean

07.01.2025 Natural Gas , Oil

Oil down amid slowing economic activity, lower demand

- Recession concerns in major economies heighten fears of slowing global oil demand, pushing prices lower

07.01.2025 Oil

US oil rig count down by 1 for week ending Jan. 3

- Number of US oil rigs down by 19 compared to one year ago

06.01.2025 Oil , General

Oil prices rise amid optimism on US and China economic activity

- Oil prices climb on optimism about economic growth in US and China, boosted by demand expectations and lower US crude stocks

04.01.2025 Oil

Oil prices edge up in 1st week of 2025 amid economic growth hope

- Potential shifts in US economic growth after Trump’s Jan. 20 inauguration are expected to drive oil demand and influence prices

03.01.2025 Oil

Oil prices rise amid strong demand outlook in US and China

- Chinese economy rebounds, on an upward trajectory, China's President Xi Jinping says

03.01.2025 Oil

Türkiye's oil imports down 7.82% in October

- Crude oil imports in October fall by 25.9% to 2.18 million tons, latest data shows

01.01.2025 Oil

Oil up over strong economic data from China, weakening US dollar

- Chinese authorities approve record fiscal stimulus package of 3 trillion yuan to boost economy, contributing to market optimism over future oil demand

02.01.2025 Oil

Türkiye's energy import bill up 8.8% in November

- At $5.73 billion, energy accounts for 19.3% of overall import figures in Türkiye in November

02.01.2025 Electricity , Oil

Oil up in thin trade as market awaits more demand cues

- Uncertainties around both supply and demand continue as US President-elect Donald Trump prepares to take office on Jan. 20

30.12.2024 Oil

US oil rig count remains unchanged for week ending Dec. 27

- Number of US oil rigs down by 17 compared to one year ago

30.12.2024 Oil

Oil prices settle higher in last week of 2024 amid thin trade during Christmas holiday

- Oil trading volume thinned during holiday-shortened week

27.12.2024 Oil

Oil steady amid China demand optimism, strong US dollar

- Holiday-shortened week leads to thin volumes in oil markets

27.12.2024 Oil

Exclusive - Iran's oil halt pushes Syria toward new regional cooperation

- Saudi Arabia's potential oil supply is seen as a strategic move that could reshape regional energy dynamics

27.12.2024 Natural Gas , Oil , analysis , Energy Diplomacy , Energy Projects

Oil prices up with China demand hopes

- Markets experience thin trading volumes due to Christmas holiday

27.12.2024 Oil

Oil markets closed on Christmas

- Both benchmarks gained until the holiday

25.12.2024 Oil

Highlights of Türkiye's energy market in 2024

- Türkiye expands international cooperation in earth materials, oil, natural gas and nuclear power while increasing renewable capacity

28.12.2024 Natural Gas , Oil , Coal , Geothermal/Biomass , Energy Projects , General

Oil up over US economic growth data, trade limited ahead of Christmas break

- Recent US data on personal consumption expenditures and economic growth ease inflation concerns

25.12.2024 Oil

Iran struggling to tackle energy crisis despite vast oil reserves

- President Masoud Pezeshkian has invited the public to lower heating by 2C while country suffers amid power cuts and schools go online due to cold weather

25.12.2024 Oil

Oil up on lower US inflation data, hope of Federal Reserve policy easing

- US Federal Reserve is expected to maintain higher policy rates for an extended period to curb inflation

24.12.2024 Oil

US oil rig count up by 1 for week ending Dec. 20

- Number of US oil rigs fall by 15 compared to one year ago

22.12.2024 Oil

Oil prices post 3% weekly loss amid strong dollar, China demand fears

- Expectation that Fed may slow pace of policy rate cut boosts dollar demand

21.12.2024 Oil

Oil falls as Fed adopts cautious stance on future rate cuts, strengthening dollar

- Concerns that demand will decline in China, world's largest oil importer, continue to pressure prices

20.12.2024 Oil

Oil prices up with US inventory drawdown, Fed rate cut

- Economy continues to grow at steady pace, labor market conditions ease, Fed says following decision to reduce rates by 25 basis points

19.12.2024 Oil

US crude oil inventories down by 0.2% for week ending Dec. 13

- Daily crude oil production increases to around 14.04 million barrels per day

21.12.2024 Oil

Türkiye's energy security measures in focus following Syrian regime collapse

- Experts say Türkiye could play a crucial role in overcoming energy bottleneck in region

20.12.2024 Natural Gas , Oil , Energy Diplomacy

Oil prices up with Fed rate cut hopes, US demand surge

- Market participants await US Federal Reserve's policy decision and inflation data releases from Eurozone and UK

19.12.2024 Oil

Oil prices down with global inflation uncertainty

- Market players eye monetary policy by several major banks this week to gain insight on inflation

18.12.2024 Oil

Oil prices fall amid uncertainty over Fed’s 2025 roadmap

-Macroeconomic data indicating slowdown in US economic growth further put pressure on prices

17.12.2024 Oil

US oil rig count remains unchanged for week ending Dec.13

- Number of US oil rigs down by 19 compared to one year ago

16.12.2024 Oil

Oil prices up following 2 week decline with positive economic signals

- Benchmarks up 4% during week ending Dec. 13 with demand hopes

14.12.2024 Oil

Oil prices down over growing supply surplus unease

- Expectation of increased demand in world's largest oil consumers, US and China, caps losses

13.12.2024 Oil

Global oil output up by 0.12% in November, IEA reports

- Agency forecasts global oil demand to reach around 103.9 million barrels per day in 2025

17.12.2024 Oil

Shell to explore for oil and natural gas in Bulgarian Black Sea zone

- Bulgaria partners with Shell to explore oil and gas reserves in Black Sea's Block 1-26 Khan Tervel

12.12.2024 Natural Gas , Oil

Oil prices up with fresh EU sanctions on Russia

- Sanctions include ban on shipping crude oil and some oil products transported by sea from Russia to EU

12.12.2024 Oil

US crude oil inventories down by 0.3% for week ending Dec. 6

- Daily crude oil production increases to around 14.07 million barrels per day

12.12.2024 Oil

Karmod installs container buildings at DR Congo oil field

- Container buildings in Pointe-Noire to be used by engineers working on Moho offshore oil project, one of largest petroleum ventures launched in country

11.12.2024 Oil

OPEC daily crude output up 0.5% in Nov.

- Global oil demand growth forecast for 2024 is revised down by 210,000 bpd, from previous month's assessment

12.12.2024 Oil

Oil giants' profits slide 15.1% to $182.1 billion in January-September

- Oil majors' net revenues drop to $182.1 billion in first nine months of the year, down from approx. $214.5 billion in 2023

12.12.2024 Refining/Petro Chemistry

Oil prices up with China demand hopes

- China calls for more active budget and moderately loose monetary policy for next year

11.12.2024 Oil

US energy agency lowers crude oil price forecasts for 2025

- International benchmark Brent crude estimated to average $73.58 per barrel next year

11.12.2024 Oil

Oil up with geopolitical upset in Middle East

- China's exports slow in November, amid expectation that US President-elect Trump will increase tariffs when he takes office in January

11.12.2024 Oil

Oil prices edge up over uncertainty in Middle East

- Decisions from major oil producer countries increase demand concerns, limiting upward movements

10.12.2024 Oil

US oil rig count up by 5 for week ending Dec. 6

- Number of US oil rigs fall by 21 compared to one year ago

10.12.2024 Oil

OPEC+'s decision to keep production cuts push weekly prices down

- Oil cartel's decision and slowdown in world's two biggest economies help Brent prices around $70

11.12.2024 Oil

Oil prices drop following OPEC+ extension of supply cuts

- Macroeconomic data released in US signals slowdown in economic growth, further influencing downward price movements

09.12.2024 Oil

OPEC+ extends oil output cut until end of 2026

- Additional voluntary output cut of 2.2 million barrels per day to be gradually eased from April 2025

06.12.2024 Oil

Oil drops amid demand concern and economic slowdown in China and US

- Rising expectations that the US Federal Reserve (Fed) might cut interest rates this month limits further price falls

06.12.2024 Oil

Equinor, Shell join to form independent oil and gas company in UK

- New company expected to produce over 140,000 barrels of oil equivalent per day in 2025

05.12.2024 Natural Gas , Oil , Energy Diplomacy

US crude oil inventories down 1.2% for week ending Nov. 29

- Daily crude oil production increases to around 13.96 million barrels per day

05.12.2024 Oil

Oil up over Middle East tension, OPEC+ supply plan

- Unexpected build in US commercial crude oil inventories limits upward price movements

05.12.2024 Oil

Oil up with demand outlook, Fed rate cut prospect

- Tension heightens in the Middle East as Israeli army continues to attack targets despite cease-fire agreement

04.12.2024 Oil

Nigerian authorities seize 1.2M liters of stolen oil

- 17 oil smugglers arrested and 20 boats used in smuggling operations also seized, says official

03.12.2024 Oil

Oil prices edge higher on Chinese demand optimism, Middle East tension

- Strengthening dollar caps restraining crude oil gains

03.12.2024 Oil

US oil rig count down by 2 for week ending Nov. 29

- Number of US oil rigs fall by 28 compared to one year ago

01.12.2024 Oil

Oil prices set for weekly fall following cease-fire reached between Israel and Lebanon

- Prospect of lasting cease-fire in wider region helps drive price declines by easing supply concerns among market participants

30.11.2024 Oil

Oil up with threat of intense warfare in Mideast, weaker dollar

- Israeli army has instruction to prepare for a violent war in case of a serious violation of cease-fire agreement, Israeli premier says

29.11.2024 Oil

Oil prices down following stronger US dollar, Mideast cease-fire

- Anticipation of lasting cease-fire in Middle East, home to significant portion of global oil reserves, contributes to recent price declines

28.11.2024 Oil

Türkiye's oil imports down 25.5% in September

- Crude oil imports in September fall by 43.1% to 1.68 million tons, latest data shows

28.11.2024 Oil

US crude oil inventories down 0.4% for week ending Nov. 22

- Daily crude oil production increases to around 13.9 million barrels per day

28.11.2024 Oil

Oil prices up with US demand surge, weaker dollar

- Cease-fire agreement reached between Lebanon and Israel came into force early Wednesday, easing supply concerns

27.11.2024 Oil , General

Oil prices down amid potential Lebanon cease-fire deal

- As dollar soars, dampening oil demand and driving down prices

26.11.2024 Oil

Oil prices down amid cease-fire expectations in Middle East

- Economic slowdown in China, the world's largest oil importer, is exerting further downward pressure on oil prices

26.11.2024 Oil

US oil rig count up by 1 for week ending Nov. 22

- Number of US oil rigs fall by 21 compared to one year ago

23.11.2024 Oil

Oil prices up on Russia-Ukraine tension, US inventory build caps gain

- Data from Energy Information Administration reveals 0.1% increase in US commercial crude oil inventories for week ending Nov. 15

22.11.2024 Oil

US crude oil inventories up 0.1% for week ending Nov. 15

- Daily crude oil production falls to around 13.64 million barrels per day

23.11.2024 Oil

Nuclear set to reach new record in 2025: IEA

Russia claims Ukraine conducted drone strike against Zaporizhzhia Nuclear Power Plant

Romania to lengthen lifespan of 1st nuclear reactor with $2 billion contract

Türkiye to initiate trial production at Akkuyu in 2025: Turkish energy min.

Türkiye's daily power consumption down 1.8% on April 26

Türkiye's daily power consumption up 16.7% on May 22

Türkiye's daily power consumption increases 1.2% on May 10

Spot market electricity prices for Saturday, April 15

Highlights of Türkiye's energy market in 2024

Global coal demand peaks in 2024, to plateau until 2027: IEA

Türkiye to begin 1st gold production in Niger in 2025

Spot market electricity prices for Monday, Nov. 11

Spot market natural gas prices for Tuesday, Nov. 5

Global natural gas investments to reach almost $9 trillion by 2050

Spot market natural gas prices for Thursday, Jan. 5

Turkish president announces more gas reserves found in Black Sea

Türkiye's natural gas imports up 17.7% in October

Costs double as oil and gas discoveries decline in global markets

Global gas production to increase by around 32% by 2050

Spot market natural gas prices for Friday, Dec. 29

US LNG vessel to arrive in Türkiye on January 31

US LNG carrier set to arrive in Türkiye on Jan. 13

bp begins 1st flow from West African offshore LNG project

Türkiye's LPG production down 14.6% in October

Oil production in Türkiye's eastern region breaks first record in 2024

Oil up in w/e Dec. 15 on demand optimism, central bank interest rate decisions

US crude oil inventories down 1% for week ending Dec. 8

US oil rig count up for week ending Dec. 8

US oil rig count down by 6 for week ending June 28

Oil dives as weak US inflation data dashes hopes for interest rate cuts

Oil rebounds over US plans to refill emergency stockpiles

US crude oil inventories down 1% for week ending Dec. 1

Oil giants' profits slide 15.1% to $182.1 billion in January-September

Oil prices up on expectations of supply delay from OPEC+, recession fears in US

Oil prices rise in week ending Aug.30 amid falling US inventories

US oil rig count down by 2 for week ending Aug 16

Scottish government approves £150 million offshore wind fund

European Invest. Bank to loan €1B for Spain's solar, wind energy projects

Germany's Enercon and partners to install 2,500 MW of onshore wind in Türkiye

Türkiye has potential for 27 GW of offshore wind by 2050, World Bank says

European Invest. Bank to loan €1B for Spain's solar, wind energy projects

Türkiye's solar power soars to record heights in 2024: Ember

QatarEnergy, TotalEnergies partner for 1.25GW solar project in Iraq

Global renewables jobs reach 16.2 million in 2023 with highest yearly rise

China set to build world's largest dam in Tibet

TotalEnergies expands renewables portfolio with hydropower deals across Africa

Türkiye leads Europe with highest rise in hydropower capacity last year

Hydro provides majority of Norway's power in January

Highlights of Türkiye's energy market in 2024

Climate crisis to push 150M more Africans into poverty by 2050, experts warn

Taiwan starts drilling of 1st deep geothermal well

Türkiye sets new record for daily power consumption with 1.34% increase on July 9

EBRD's investments in Türkiye reach record of €2.6 billion last year

Global mining needs $6 trillion over next decade, Saudi minister says

Türkiye's licensed power generation up 4.64% in October

Türkiye's daily power consumption up 14.7% on Dec. 23

bp, Abu Dhabi’s XRG form joint venture for gas in Egypt

OPEC+ agrees to extend group-wide output cuts into 2025

Libya Energy & Economic Summit 2024 to kick off in Tripoli

OPEC+ countries announce daily voluntary output cuts by 2.2 million barrels

Brazil joins OPEC+ as group confirms 3.6 million barrels per day output cut

Spot market electricity prices for Sunday, Dec. 3

ExxonMobil drills first lithium well in Arkansas in aim to become major player in EV sector

Spot market electricity prices for Thursday, June 8

High rollout of electric vehicles could earn UK drivers £6.5B more by 2035

Spot market natural gas prices for Friday, Dec. 1

Turkey's daily power consumption down 0.77% on Oct. 23

Russian Lukoil starts Chashkino gas-turbine power plant

Gazprom posts 26% loss in 1H20

Global leaders of energy sector to convene at İstanbul Energy Forum

UN weather agency says 2024 on track to be warmest year on record

Climate Investment Funds grant $70 million to accelerate Türkiye's renewable energy integration

Vitol to invest $550 million in clean cooking technologies in Africa

Türkiye's LPG production down 25% in April 2024

Türkiye's LPG production up 15% in December 2023

Türkiye's LPG production up 6.69% in November 2023

Türkiye's LPG production down 6.3% in October

Energy industry steps up global cybersecurity efforts amid growing threats

One out of every four countries sees energy supply shortages among "top 5 risks"

Highlights of global energy market in 2024