• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 7 days World could get rid of Putin and Russia but nobody is bold enough
  • 9 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 10 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Microwave Energy Could Fix The Biggest Problem Facing EVs

Microwave Energy Could Fix The Biggest Problem Facing EVs

Researchers from the University of…

How To Play The Nuclear Power Renaissance

How To Play The Nuclear Power Renaissance

A nuclear renaissance seems likely,…

Houthi Red Sea Attacks Are Boon for Pirates as Ships Reroute

Houthi Red Sea Attacks Are Boon for Pirates as Ships Reroute

It’s unlikely that surging piracy…

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 Rig Count Inches Higher As Prices Drop

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 5 this week. The total number of active oil and gas rigs in the U.S. is now at 402—or 388 fewer than this time last year.

The oil rig count increased by 4 this week, and the number of gas rigs increased by 1. The number of miscellaneous rigs remained unchanged.

The EIA’s estimate for oil production in the United States for the week ending February 19 fell sharply by 1.1 million bpd to 9.7 million barrels. It is the lowest production level in the United States since August 2020.

Canada’s overall rig count decreased this week by 9. Oil and gas rigs in Canada are now at 163 active rigs and down 77 year on year. 

The Permian basin saw another increase this week in the number of rigs, by 4, bringing the total active rigs in the Permian to 208, or 203 below this time last year.

Primary Vision's Frac Spread Count rose out of the doldrums this week to 140, returning to levels seen at the beginning of this year.

WTI and Brent were both trading sharply down on Friday, after sizable gains made last week as the market senses a tightening of supply is taking shape, with oil inventories in the United States now at the five-year average.

At 1:02 p.m. EDT, WTI was trading down 2.83% on the day at $62.05—by up nearly $3 per barrel on the week. Brent was trading down 1.15% on the day, at $66.11, also up nearly $3 per barrel for the week.

By Julianne Geiger for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

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