• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 59 mins Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 2 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 2 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 2 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 days Modest drop in oil price: SPRs vs US crude inventory build
  • 2 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Ukrainian Maidan after 8 years
  • 4 days Peak oil - demand vs production
  • 5 days "How the CO2 shortage is impacting the food and drink sector" - Specialty Food Magazine
  • 5 days NordStream2
  • 5 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
Guyana Is Walking A Fine Line With Its Oil Boom

Guyana Is Walking A Fine Line With Its Oil Boom

Guyana, one of the poorest…

Why Is Ukraine Ignoring Its Massive Bioenergy Potential?

Why Is Ukraine Ignoring Its Massive Bioenergy Potential?

Bioenergy offers a promising alternative…

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 Rig Count Dips As Prices Rise

Baker Hughes reported a 2-rig decrease to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 993, which is an addition of 169 rigs year over year.

The number of oil rigs in the United States decreased by 7 this week, for a total of 797 active oil wells in the US—a figure that is 135 more rigs than this time last year. The number of gas rigs rose by 4 this week, and now stands at 194; 34 rigs above this week last year.

The oil and gas rig count in the United States has increased by 69 in 2018.

While US drillers seem determined to add rigs, Canada continued this week its (seasonal) losing streak, with a decrease of 27 oil and gas rigs, after losing 58 rigs last week, 54 rigs the week before, and 29 rigs the week before that. At just 134 total rigs, Canada now has 21 fewer rigs than it did a year ago.

Oil prices are down this week versus last Friday, with both benchmarks losing about $1 per barrel as API and EIA crude oil inventory data showed a build Also weighing on prices this week is US crude oil production, which continued its uptick in the week ending March 23, reaching 10.433 million bpd—the fifth build in as many weeks.

While prices are down week over week, on the day, both benchmarks were up ahead of the data. At 12:44 pm EST, the price of a WTI barrel was trading up $0.29 (+0.45%) to $64.67. The Brent barrel was trading up by $0.26 (0.38%) at $69.02.

At 1:08pm EST, WTI was trading at $64.83 (+$0.45) and Brent was trading at $69.18 (+$0.42).

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Jazz LaCeaddock on March 29 2018 said:
    Excellent , well written article. I hope oil prices go back to $35 soon.
  • T on March 30 2018 said:
    Why are you hoping for oil price to go back to 35? I think we should worry more about medicine and basic food prices.

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