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Offshore drilling activity is at its highest level in over three years, driven by record Chinese activity, while US onshore activity remains sluggish despite upbeat outlooks from frackers.
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Certain Fastmarkets prices will be rolled over between December 25 and January 1 in observance of the Christmas and New Year holidays.
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IM's monthly price movements.
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The US rig count is at a three-year high, with demand painting a positive picture for oilfield mineral pricing.
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IM's monthly price movements.
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The boom in US oilfield activity is not being matched by oil producers in other markets, the latest Baker Hughes rig numbers show.
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Ceramics production growing rapidly in India; Demand is high for good-quality raw materials; Producers expect expansion to continue
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The latest figures from Baker Hughes, one of North America's largest oilfield services providers, and the American Petroleum Institute, show that drilling activity is improving, particularly in the US, which could help strengthen demand for oilfield minerals such as frac sand and barite.
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According to a report published by the UK trade body, it would be possible to cut the UK's dependency on gas imports by half while still maintaining the UK's countryside areas, using similar operational models as in the US.
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Oil prices rallied following an announcement by OPEC that it would set a production limit of 32.5m bbl/d.
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Trump win ‘positive’ for oil and gas sector while uncertainty surrounds the future of renewables. Meanwhile a lack of clarity remains in terms of foreign trade agreements.
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