• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 11 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 1 hour Demand for Diesel vs. Oil
  • 1 hour China gets caught?
  • 2 hours Which type of Hegemony will China follow
  • 2 days Governments that wasted massive windfalls
  • 14 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 2 days Here is Why People Lose Money Trading Natural Gas
  • 2 days We're freezing! Isn't it great? The carbon tax must be working!
  • 15 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Let’s take a Historical walk around the Rig
  • 2 days US Shale: Technology

Breaking News:

Oil Prices Rise On Surprise Crude Draw

Alt Text

As Gas Prices Crash, Will This Shale Giant Survive?

Fracking giant Chesapeake may seem…

Alt Text

Oil Bears Are Back As Demand Fears Go Viral

Demand fears, largely driven by…

Alt Text

5 Niche Energy ETFs You’ve (Probably) Never Heard Of

Since their inception nearly three…

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

US Oil & Gas Rigs Fall For Sixth Straight Week

The US oil and gas rig count fell for the sixth week in a row this week, decreasing by 8 for the week, according to Baker Hughes, but US oil companies are still pumping oil at record rates.

The total oil and gas rig count now stands at 860, or 194 down from this time last year.

The total number of active oil rigs in the United States decreased by 6 according to the report, reaching 713. The number of active gas rigs decreased by 2 to reach 146.

Oil rigs have seen a loss of 150 rigs year on year, with gas rigs down 43 since this time last year, compared to 858 and 187 active rigs, respectively, at the beginning of the year.

Still, in the United States, weekly oil production is at an all-time high. So while the number of oil rigs have declined by 164 this year alone, production has grown from 11.7 million bpd at the beginning of the year, to 12.5 million bpd for week ending September 20.

Oil prices were trading down on Friday ahead of the data, after Saudi Arabia agreed to a ceasefire in Yemen and as Iran claimed that the US agreed to lift sanctions if they were willing to negotiate—a claim that the US flatly denied.

At 9:59 am EDT today, WTI was down $0.73 (-1.29%) at $55.68 off $3 week over week.  Brent crude was trading down on the day as well, by $1.01 (-1.64%) at $60.73, also down roughly $3 per barrel for the week.  

Canada’s overall rig count increased this week, with oil and gas rigs climbing by 8, after last week’s 15-rig decrease. Oil and gas rigs in Canada are down 51 year on year. 

WTI was trading down 0.90% shortly after data release, while Brent was trading down 1.31%.

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
Download on the App Store Get it on Google Play