• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 4 hours Russia's Rosneft Oil Company announces termination of its activity in Venezuela
  • 5 mins Trump eyes massive expulsion of suspected Chinese spies
  • 6 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 2 hours Saudi Arabia Can't Endure $30 Oil For Long
  • 1 min A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 8 hours KSA taking Missiles from ?
  • 10 hours Where's the storage?
  • 10 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 1 min >>The falling of the Persian Gulf oil empires is near <<
  • 4 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 13 hours China extracts record amount of natural gas from Gas Hydrates in South China Sea
  • 14 hours Wait till America opens their Q1 401k Investment Statements and see they have lost 35% of their retirement savings. They can blame the Authoritarian Chinese Communist Party..
  • 10 hours Hillary Clinton tweeted a sick Covid joke just to attack Trump
Alt Text

The Cheapest Way For Trump To Save U.S. Oil

U.S. President Trump is under…

Alt Text

Why This Is Not The Right Time To Buy Energy Stocks

After a strong three-day rally,…

Alt Text

The Worst Is Still To Come For Oil Markets

There isn’t any incentive 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

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