That Was the Week That Was...in O&G: a 30 second update (w/e Feb 2, 2024)

That Was the Week That Was...in O&G: a 30 second update (w/e Feb 2, 2024)

WTI?down 7%?WoW

  • Oil prices fell by about 2% on Friday and posted weekly losses after U.S. jobs data shrank the odds of imminent interest rate cuts in the world's largest economy, which could dampen crude demand
  • Faltering growth in China also reduced price, and both benchmarks lost roughly 7% on the week.

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HH?down 23% WoW

  • Prices tumbled as mild weather limited demand for heating across much of the L48

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Baker Hughes US rig count (ex-GOM)?down 2 WoW

  • 619 vs 621: EFS (-2), Haynesville (-2), Permian (+1)

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