U.S. Rig Count, Increasing Oil U.S. Production: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
California Drives U.S. Battery Storage Growth - California has been the dominant force behind the build-out of utility-scale battery storage systems in the U.S., adding slightly more than half of the country's total battery capacity since 2019, data from energy data portal Cleanview shows. California's 8.6 gigawatts (GW) of battery storage capacity accounts for roughly half of all utility-scale battery capacity within the U.S. and is twice as much as the capacity in place in Texas, the second-largest deployer of battery storage. Total battery storage capacity in the U.S. is estimated at around 17.5 GW, according to the U.S. Energy Information Administration (EIA) and Cleanview. (Reuters)

PRODUCTION
U.S. Drillers Cut Rigs - U.S. energy firms last week cut the number of oil and natural gas rigs operating for a fourth week in a row to the lowest since December 2021, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by seven to 581 in the week ending June 28. Baker Hughes said oil rigs fell six to 479 last week, their lowest since December 2021, while gas rigs fell one to 97, their lowest since 2021. (Reuters)

U.S. Oil Output, Demand Rose to Four-Month High in April - U.S. oil production and demand rose to a four-month high in April, according to the EIA's Petroleum Supply Monthly report published on Friday. Total U.S. field production of crude oil rose by 72,000 barrels per day (BBL/d) month-over-month to 13.25 million BBL/d, the highest since December. Product supplied of crude oil and petroleum products, the EIA's measure of demand, rose to 20 million BBL/d in April, up 131,000 BBL/d from March and the highest so far this year. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).