• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 8 minutes The Inconvenient Truth Of Electric Cars
  • 5 hours Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 4 hours To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
  • 28 mins Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 28 mins SHALE MAGIC: Let the oil flow: US to lead oil output growth through 2030: ConocoPhillips chief economist
  • 5 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 2 hours The Plastics Problem
  • 17 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 18 hours The Strait of Hormuz is the world’s most important oil transit chokepoint
  • 13 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 7 hours Cap and trade: What could Oregon’s carbon policy cost you?
  • 4 mins On the hobby side of things
  • 19 hours Climate change & Wildfires: More Wildfires To The Western U.S., Will Affect Tens Of Millions Of People
  • 11 hours Oil Demand Needs to Halve: Equinor
Alt Text

Iran: A Geopolitical Time Bomb

Oil markets have turned particularly…

Alt Text

Hedge Funds Halt Selloff In Oil As Mid-East Tensions Spike

Hedge funds effectively stopped the…

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