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EIA: US had less wells but bigger crude oil and natural gas production in 2017

The total number of wells producing crude oil and natural gas in the US fell to 991,000 in 2017, down from a peak of 1,039,000 wells in 2014, while, in 2017, the daily production rates of individual wells contributed to an increase of US total crude oil and natural gas production, according to EIA. This reflects the advances in technology and drilling techniques, EIA noted.

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API: Marine shipping demand slow in October

Marine shipping activity and residual fuel oil demand were supported by US importers who were building inventory ahead of the holiday season. This activity was also supported by efforts to deal with escalating tariffs from the trade war between USA and China. However, marine shipping was slow in October, while the Baltic Dry Index was less by 5.5% between September and October.

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