US Oil Drilling Activity Slumps As Volatile Prices Spook Markets
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 1-rig decrease in the week prior.
The total rig count in the US fell by 7 to 547 rigs, according to Baker Hughes, down 34 from this same time last year.
The number of oil rigs fell by 6 to 432 after falling by 1 during the previous week—and down by 47 compared to this time last year. The number of gas rigs fell by 2 this week, to 109 for a gain of 12 active gas rigs from this time last year. The miscellaneous rig count rose by 1, to 6.
The latest EIA data showed that weekly U.S. crude oil production rose again this week, from 13.431 million bpd to 13.435 million bpd. The figure is 196,000 bpd down from the all-time high reached during the week of December 6, 2024.
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