• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 28 mins Would bashing China solve all the problems of the United States
  • 2 hours Model 3 cheaper to buy than BMW 3 series.
  • 1 hour Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 18 mins Pompeo's Hong Kong
  • 1 hour Thugs in Trumpistan
  • 2 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 23 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 2 hours China’s Oil Thirst Draws an Armada of Tankers
  • 13 hours Income report showing potential future spending and economic growth
  • 6 hours Coronavirus hype biggest political hoax in history
  • 13 hours US-China tech competition accelerates: on Friday 05/15 new sanctions on Huawei, on Monday 05/18 Samsung chief visits China
  • 2 days China to Impose Dictatorship on Hong Kong
  • 14 hours The CDC confirms remarkably low coronavirus death rate. Where is the media?
Driving Season Won’t Save Gas Demand

Driving Season Won’t Save Gas Demand

Memorial day weekend usually marks…

Oil Holds Gains As Demand Continues To Rise

Oil Holds Gains As Demand Continues To Rise

As oil demand recovers and…

Russia To Expand Influence In Iraq’s Oil Heartland

Russia To Expand Influence In Iraq’s Oil Heartland

Russia has once again signalled…

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 Ticks Up By 3

The United States saw a three new oil rigs brought online, bringing the total count to 428, according to Baker Hughes. The number of rigs marks the highest number of oil rigs in production since February 12, and with fifteen straight weeks of no reduction to the number of active oil rigs, we are in the middle of one of the biggest recoveries in US oil.

This week marks six straight weeks of oil rig gains, and the fifteen-week streak of no oil rig losses is the one since 2011, when the oil rig count saw no negative movement for nineteen straight weeks.

Since June 24, 2016, the rig count has risen by 98 sites. From its 2016 low on May 27, the count is up by 112.

Looking at the longer view, the oil rig count is down by 177 from 605 this same time last year, but still, analysts are predicting that the oil rig count will continue to rise, as the price of oil reached $50 per barrel earlier this week and is bound to renew producer confidence.

Gas rigs declined by 2 this week, which is 95 fewer rigs than were in production a year ago, but are still up 13 over the low of 81 for 2016.

The international rig count for September 2016, also reported today, held near steady at 934, down just 3 from 937 in August. Although fairly steady compared to last month, the international rig count is down 206 from September 2015.

WTI is trading down 1.84% at $49.51 as of 1:35 EST, and Brent is trading down 2.04% at $51.44.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Al morris on October 07 2016 said:
    So the international count held near steady while declining 3 rigs. The us count ticked up 3 reaching the highest level since February, and near records for consecutive increases. Its interesting how presentation slants the perception of data.

Leave a comment




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