• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 2 hours In a Nutshell...
  • 1 day Is OilPrice a cover for Green Propganda
  • 3 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 hours Putin Paid Militants to Kill US Troops
  • 12 mins Why Wind is pitiful for most regions on earth
  • 2 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 19 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 1 hour Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 20 hours Happy 4th of July!
  • 18 hours Apology Accepted!
  • 1 day Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 2 days The Political Genius of Donald Trump
  • 3 days Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
Exxon May Finally Book Major Writedowns

Exxon May Finally Book Major Writedowns

ExxonMobil could write down the…

How Tesla Became More Valuable Than Exxon

How Tesla Became More Valuable Than Exxon

Tesla shares have soared to…

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




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