• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 3 hours China's Blueprint For Global Power
  • 2 hours Bloomberg: shale slowing. Third wave of shale coming.
  • 8 hours Boring! See Ya Clowns, And Have Fun In Germany
  • 39 mins ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 2 hours Yesterday Angela Merkel stopped Trump technology war on China – the moral of the story is do not eavesdrop on ladies with high ethical standards
  • 7 hours USA Carried Out Secret Cyber Strike On Iran In Wake Of Saudi Oil Attack
  • 13 hours Crazy Stories From Round The World
  • 11 hours the future
  • 8 hours 5 Tweets That Change The World?
  • 7 hours Spain Is On The Edge...Clashes Between Catalonia And "Madrid"
  • 8 hours Leftists crying to make oil patch illegal friendly: 'Broken system' starves U.S. oil boom of immigrant workers: CONGRESS DO YOUR JOBS INSTEAD OF PANDERING!
  • 13 hours Climate Protesters Blocking Roads etc...
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

U.S. Oil Rig Count Takes Sharp Turn Downward

The US oil and gas rig count fell again, decreasing by 18 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 868, or 185 down from this time last year.

The total number of active oil rigs in the United States decreased by 14 according to the report, reaching 719. The number of active gas rigs decreased by 5 to reach 148.

Oil rigs have seen a loss of 147 rigs year on year, with gas rigs down 38 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 still near an all-time high. So while the number of oil rigs have declined by 158 this year alone, production has grown from 11.7 million bpd at the beginning of the year, to 12.4 million bpd for week ending September 13.

Oil prices were trading slightly up on Friday ahead of the data, with the huge spikes seen earlier in the week in the wake of the attacks on Aramco’s infrastructure now somewhat subdued.

At 11:39 am EDT today, WTI was up $0.38 (0.65%) at $58.57, still up $3 week over week.  Brent crude was trading up on the day as well, by $0.29 (0.46%) at $63.62, also up roughly $3 per barrel for the week.  

Canada’s overall rig count decreased this week as well. Oil and gas rigs decreased by 15, after last week’s 13-rig decrease. Oil and gas rigs in Canada are down 78 year on year. 

WTI was trading up 1.44% shortly after data release, while Brent was trading up 1.23%.

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