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On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote the transformation of the whole society to be suitable for the elderly, support local pilot exploration, and promote the installation of elevators in multi-story buildings and the development of elderly dining services. Actively develop industries such as anti-aging and silver tourism to release the potential of the silver consumption market. Encourage the development of community embedded childcare, employer-run childcare and integrated childcare services. Support and regulate social forces to develop elderly care and childcare services, and improve the price formation mechanism of elderly care services. Encourage places with conditions to provide site support and operation subsidies to universal childcare institutions based on actual conditions.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to develop inbound consumption. Orderly expand the scope of unilateral visa-free countries, optimize and improve regional entry visa-free policies. Launch more high-quality inbound tourism routes and services, improve the convenience level of foreign tourists in China, and cultivate international medical, exhibition and other markets. Deepen the cultivation and construction of international consumption center cities. Support the opening of duty-free shops in urban ports that meet the conditions. Support more high-quality merchants to become departure tax refund stores, and promote the "buy now, refund now" service measures for departure tax refunds.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote ice and snow consumption. Launch and implement the ice and snow tourism promotion plan, organize and carry out ice and snow consumption season and other consumption promotion activities, build a number of ice and snow theme high-quality tourist attractions and resorts, and support ice and snow resource-rich areas to build world-renowned high-quality ice and snow tourism destinations. Encourage all regions to enrich the supply of ice and snow venues and consumer products according to time and place.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to strengthen credit support. Financial institutions are encouraged to increase the issuance of personal consumer loans under the premise of controllable risks, and reasonably set the amount, term and interest rate of consumer loans. Financial institutions are supported to optimize the repayment method of personal consumer loans in accordance with the principles of marketization and rule of law, and carry out loan renewal work in an orderly manner. In 2025, financial subsidies will be provided for eligible personal consumer loans and loans to service industry operators in the consumer field.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to continuously optimize the business environment. Improve the negative list management model for market access, focus on environmental protection, sanitation, security, quality inspection, fire protection and other fields, thoroughly clean up and rectify various market access barriers, and create a stable, fair, transparent and predictable market environment. Encourage all regions to simplify the approval process for promotional activities, community markets, outdoor displays, signboard facilities, etc., and implement online reporting and immediate processing. Improve the efficiency of supervision and random inspections through cross-departmental joint efforts, and do not disturb public consumption places.

As WTI prices fall below $100, the number of U.S. oil rigs does not change

Skylar Williams

Jul 25, 2022 11:44

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According to numbers issued by Baker Hughes on Friday, the total number of active drilling rigs in the United States rose by two this week.


This week, there were 758 operational drilling rigs, 267 more than at the same time in 2021.


This week, there were 599 active oil rigs in the United States. To 155, the number of gas wells increased by 2. At 4, the number of diverse rigs remained steady.


This week, there were 349 rigs in the Permian Basin, one less than last week. The number of rigs in Eagle Ford increased by one to seventy. There are 107 more oil and gas rigs in the Permian than there were at this time last year.


Frac Spread Count, a measure of the number of crews completing unfinished wells — a more efficient use of resources than drilling new wells — declined to 279 for the week ending July 15 from 244 during the same week one year prior.


During the week ending July 15, the United States produced 11.9 million barrels per day (bpd) of crude oil, down 100,000 barrels per day (bpd) from the previous week.


As of 10:00 a.m. EDT, oil prices were trending up on the day, but somewhat lower for the week, as recession fears continued to outweigh the Russia factor. WTI was trading at $96.53, which was an increase of $0.18 per barrel (+0.19 percent) on the day but a decrease of little more than $1 per barrel week-over-week. The Brent benchmark traded at $104.50 a barrel, a daily increase of $0.65 (+0.63 percent) and a weekly increase of approximately $3.


At 1:06 p.m. ET, WTI was trading at $96.70 per barrel and Brent was trading at $104.80 per barrel; both were up on the day.