• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 23 hours Energy Armageddon
  • 13 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 13 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 5 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 5 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 5 days The Federal Reserve and Money...Aspects which are not widely known
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 7 days Goldman Betting on Cryptocurrencies
  • 10 days Сryptocurrency predictions
  • 15 days Putin and Xi Bet on the Global South
Volkswagen Sales In China Stall In 2022

Volkswagen Sales In China Stall In 2022

Volkswagen announced this week that…

Are Oil And Gas Lobbyists Influencing The COP Summits?

Are Oil And Gas Lobbyists Influencing The COP Summits?

Environmentalists fear that the next…

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 Steady Amid Tiny Rig Count Increase

The US oil and gas rig count increase by 1 this week, according to Baker Hughes—a small gain that ends a string of significant losses for the United States. The total oil and gas rig count now stands at 935, or 122 down from this time last year. US production, however, is still significantly up year on year.

The total number of active oil rigs in the United States increased by 6 according to the report, reaching 770. The number of active gas rigs decreased by 4 to reach 165. Miscellaneous rigs fell by 1, to zero.

Oil rigs have seen a loss of 99 rigs year on year, with gas rigs down 21 since this time last year. The combined oil and gas rig count is down solidly in triple-digit territory, at 122 year on year.

Year-to-date, the oil rig count has fallen from 858 active rigs since the beginning of the year to 770, while gas rigs have fallen from 187 to 165 during that same time.

Oil prices were trading up slightly on Friday ahead of the data.

At 11:37 am EST today WTI was up $0.12 (+0.22%) at $54.59—up $0.20 week on week. The Brent benchmark was also up on the day, by $0.36 (+0.62%) at $58.59—down just $.09 from this time last week.

US production held fast at an average of 12.3 million bpd for week ending August 9, which is just 100,000 bpd off the all-time high.

Canada’s overall rig count saw a yet another increase this week, although small. Oil and gas rigs climbed by 2, adding to last week’s 3-rig increase. Oil and gas rigs in Canada are still down 70 year on year. Canada’s oil rigs are down 40 year on year, with gas rigs down 30 year on year.

WTI was trading up 0.26% shortly after data release, while Brent was trading up 0.53%.

By Julianne Geiger for Oilprice.com

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