• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 15 hours Fukushima
  • 2 days America's pandemic dead deserve accountability after Birx disclosure
  • 19 hours Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 48 mins U.S. Presidential Elections Status - Electoral Votes
  • 2 days CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 2 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 13 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 15 hours Joe Biden's Presidency
  • 1 day New Chinese Coal Plants Equal All those in U.S.A
  • 4 days Does .001 of Atmosphere Control Earth's Climate?!
  • 3 days Oh the Dems!!! They cheer for helping people while stabbing them in the back!!! Enbridge asks Canadian government to support oil pipeline in dispute with Michigan
  • 4 days The coming Cyber Attack
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 Falls In Last Week Of 2019

The final US oil and gas rig count for the year decreased this week, according to Baker Hughes, reaching 805 rigs after decreasing by 8 for the week, according to Baker Hughes. The total oil and gas rig count is now 278 down from this time last year—a nearly 26% drop.

For oil rigs, this week saw an decrease of 8 rigs, according to Baker Hughes data. The total number of active gas rigs in the United States held steady for the week according to the report, at 125 This compares to 198 a year ago. 

The number of oil rigs have declined by 207 this year alone, but production has grown from 11.7 million bpd at the beginning of the year to 12.8 million bpd,­ for week ending Dec 20—just 100,000 bpd off the all-time high from a few weeks ago.

Oil prices were down on Friday ahead of the data on rumors that OPEC and allies may decide to quit its agreement to curb production at some point next year, and may ease the existing cuts as early as March.

The WTI benchmark at 9:58am was $61.51 per barrel, roughly up $1 from this time last week, but down $0.17 (-0.28%) on the day. The Brent benchmark was trading down, at $66.59. up roughly $1.25 per barrel from last week but down $0.17 (-0.25%) on the day.   

Canada’s overall rig count decreased this week, with oil and gas rigs falling by a whopping 50, adding onto last week’s 4-rig decrease. Oil and gas rigs in Canada now stand at just 99, up 29 year on year. 

At 6 minutes past the hour, WTI was trading at $61.71 and Brent was trading at $66.85.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on December 27 2019 said:
    Baker Hughes oil rig count has been telling a story of a US shale oil industry facing a production slowdown, declining well productivity and investments, bankruptcies and eventual demise. 2019 was the year in which the hype around US shale oil production finally burst.

    The number of oil rigs has declined by 207 this year alone. And still, the US Energy Information Administration (EIA) and its partners in hype the International Energy Agency (IEA) and Rystad Energy are still talking of US oil production of 12.8 million barrels a day (mbd) this year rising to 13.8 mbd in 2020.

    The EIA’s production figures are based on both estimation and hype. US production is over-stated by at least 2 mbd. This means that US oil production will average this year at 10.8-11.0 mbd and around 10 mbd in 2020.

    Dr Mamdouh G Salameh
    International Oil Economist
    Visiting Professor of Energy Economics at ESCP Europe Business School, London

Leave a comment




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