• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 16 mins While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 4 mins Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 5 hours US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 5 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 3 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 3 hours Marine based energy generation
  • 7 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 2 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 3 hours How to Create a Pandemic
  • 4 hours Apple to Bypass Internet and Beam Directly to Phones
  • 10 hours Which producers will shut in first?
  • 19 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
Alt Text

Russia’s Oil Output Falls As Global Producers Mull Unprecedented Cut

Russia’s oil production dropped slightly…

Alt Text

What Happens If U.S. Shale Goes Bust?

The oil price war and…

Alt Text

This Supermajor Is About To Slash Permian Oil Production

Chevron is slashing capital expenditures,…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

Premium Content

U.S. Oil Rig Count Rises Amid Record Breaking Production

The number of oil and gas rigs in the United States rose again this week. The boost in the number of active oil rigs this week brings the total gained in November to 10—the first monthly gain since July.

Oil and gas rigs combined were up by 14 in November—also the biggest increase seen since July, in a sign that drillers are once again eager to add rigs after scaling back in August.

This week, the number of active oil rigs increased by 9, with gas rigs falling by 1. The Permian basin, after gaining two rigs this week, now boasts 165 more rigs than this time last year, a staggering 72-percent increase.

The WTI and Brent benchmarks rose earlier today on a small crude oil inventory decline as reported by the EIA, further supported by the Keystone pipeline shutdown that took 600,000 bpd offline. WTI and Brent are both trading at levels not seen since mid-2015.

The total oil and gas rig count in the United States now stands at 923 rigs, up 330 rigs from a year ago—a 55 percent increase. The number of oil rigs stands at 747 versus 474 a year ago (+57 percent). The number of gas rigs in the US now stands at 176, up from 118 a year ago (+49 percent).

WTI was trading up on Wednesday at 1.76 percent at $57.83 at 1:38pm EST. Brent crude was trading up 0.69 percent at $62.75 at that time.

Along with an increase to the number of active oil rigs, US crude oil production was up for the week ending November 17 at 9.648 million barrels per day—another new high for 2017 as new highs are seemingly reached each week.

Baker Hughes released the data early this week due to the Thanksgiving holiday.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage






Leave a comment
  • Kr55 on November 22 2017 said:
    Of course in a few months we will find out EIA was just being tricked by more old stored oil being dumped into the market as the contango went away and production was not nearly as high. But who is counting anyways?
  • Anton on November 22 2017 said:
    Has there been a sudden increase in demand? The cuts weren't drastic vs previous years but the drawdowns have increased by a lot. Seems a little off.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News