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7/8/2016, 1:11 PM (Source: TeleTrader)
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International count sees 28 less rigs in June

There were 28 fewer active oil and gas rigs in the countries around the world in June – excluding Canada and the United States – than in the previous month, with 927 units at the end of June. One year before there were 1,146 operational oil and gas rigs, according to data provided by Baker Hughes International on Friday.

Latin American countries closed 10 rigs in June, leaving 178 operational. In the Asia-Pacific region, number of rigs fell from 190 to 182, and African countries closed 4 rigs, leaving 87 operational. In the Middle East, the region with the biggest number of units, the number was reduced by two on the month to 389.

The number of the operational rigs in Canada was 63, and there were 417 active rigs in the United States.

The weekly report on oil and gas rigs in the U.S. and Canada is due at 7:00 p.m. CET.

Meanwhile, oil prices were slowly rising on Friday. International benchmark Brent for delivery in September traded 0.60% higher at $46.71 a barrel, and West Texas Intermediate for August delivery rose 0.70% to $46.21 a barrel at 1:00 p.m. CET.

The Organization of the Petroleum Exporting Countries reported the OPEC daily basket price of 14 crudes at $44.18 a barrel on Thursday, a bit lower from $44.35 a barrel on Wednesday.

Natural gas prices fell 1.24% and gasoil traded 0.60% higher at 1:00 p.m. CET.

Breaking the News / ZR