US Oil Rig Count Rises for Second Straight Week, Baker Hughes Says
The US oil rig count rose by 2 to 433 in the latest week, marking a second consecutive increase, while gas rigs fell by 3, according to Baker Hughes data.
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data published by Baker Hughes on Friday. The overall rig count reached 563, up 1 from the same period last year.
The number of active oil rigs increased by 2 for the second consecutive week, reaching 433. This is 6 rigs below the level seen at the same time last year. Meanwhile, the gas rig count fell by 3 to 121, which is 8 rigs higher than a year ago. The modest uptick in oil drilling activity suggests that producers are cautiously adding capacity, though the pace remains subdued relative to historical levels. For energy traders, the rig count data serves as a leading indicator for future supply. A sustained rise in drilling could signal higher output ahead, potentially weighing on crude prices. However, the current count is still well below pre-pandemic peaks, indicating that capital discipline remains a theme among US shale operators. NowPrice users can track real-time fuel quotes to monitor how supply dynamics impact prices at the pump.
Looking ahead, market participants will watch for further rig count increases in the coming weeks, especially if oil prices remain supportive. The upcoming weekly inventory reports from the EIA and API will provide additional clues on supply-demand balances. Any acceleration in drilling activity could shift sentiment, but for now, the data points to a measured response from producers.