• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 2 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 16 mins California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 12 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 19 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours An Indian Opinion on What is Going on in China
  • 24 hours Can Technology Keep Coal Plants Alive and Well?
  • 2 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 4 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 17 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 21 hours Storage of gas cylinders
  • 4 days Nord Stream - US/German consultations
The New ‘Energy Islands’ Of The North Sea

The New ‘Energy Islands’ Of The North Sea

Artificial energy islands are gaining…

Libya's Election Is All About Oil Money

Libya's Election Is All About Oil Money

The looming election in Libya…

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

Oil And Gas Rig Count Falls For Ninth Straight Week

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 17, falling to 301, with the total oil and gas rigs sitting at 683 fewer than this time last year—a near 70% drop off in a single year.

The number of oil rigs decreased for the week by 15 rigs, according to Baker Hughes data, bringing the total to 222—compared to 800 active rigs in play this time last year.

The total number of active gas rigs in the United States fell by 2 to 77 according to the report. This compares to 184 rigs a year ago.

The significant fall in the rig count over the last couple of months is also reflected in the steady decline of EIA’s estimate for oil production in the United States, which fell again this week to 11.4 million barrels of oil per day on average for week ending May 22, which is 1.7 million bpd off the all-time high and 100,000 bpd lower than the week prior. It is the eighth straight weekly production decline.

Canada’s overall rig count decreased by 1 rigs this week, to 20 rigs. Oil and gas rigs in Canada are now down 65 year on year. 

At 12:23 pm, WTI was trading down 0.86% at $33.42. Although down on the day this is nearly $0.50 up week over week. The Brent benchmark was trading down 1.19% at $34.87 on the day and flat week over week. The price dip on Friday is likely the result of increased China vs. United States tensions over China’s role in both the coronavirus pandemic and its new security plan for Hong Kong.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • maciek trom on May 29 2020 said:
    Is there anyone who could explain why the total number of us rigs falls down about 70 percent when the oil production falls about 10 percent
  • Imad tsu on May 30 2020 said:
    Wti is at more than 35 at the end of may. Shale production is down, opec+ cuts are almost 75% respected in may, new investments are literally stopped, demand is recovering... I bet you that 40$ will be in june

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News