• 3 minutes Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
  • 6 minutes Natural gas mobility for heavy duty trucks
  • 12 minutes Colonial pipeline hack
  • 6 hours U.S. Presidential Elections Status - Electoral Votes
  • 17 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 45 mins Texas Power Outage Danger Until June 18th. Texans told to conserve energy!
  • 2 hours Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 48 mins And now, hybrid electric locomotives...

Breaking News:

Oil Prices Climb On Huge Inventory Draw

The Automaker Powering Its Cars With Volcanos

The Automaker Powering Its Cars With Volcanos

An innovative new alternate fuel…

Colombia Reboots Oil Industry Despite Deadly Protests

Colombia Reboots Oil Industry Despite Deadly Protests

Colombia has restarted its economically…

IEA Tells OPEC To “Open The Taps”

IEA Tells OPEC To “Open The Taps”

Oil prices climbed on Friday…

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 Rig Count Holds Steady As Oil Prices Slip

Baker Hughes reported no change to the number of active oil and gas rigs in the United States on Friday. Oil and gas rigs held at 1,048 according to the report, with the number of active oil rigs falling by 2 and the number of gas rigs increasing by 2.

The oil and gas rig count is now 104 up from this time last year.

At 12:23pm. EDT on Friday, WTI Crude was trading down 0.63 percent at $67.35—almost $3 per barrel from this time last week, while Brent Crude traded down 0.25 percent at $76.31—about $1.50 below last week’s levels—as Iran’s oil exports continue to slip heaving into November when the US sanctions kick in and as troubled Venezuela concocts plans to pump and export more oil to no avail.

Canada’s oil and gas rigs for the week fell sharply, by 24, bringing its total oil and gas rig count to 204, which is just 2 more than this time last year, with an 18-rig decrease for oil and a 6-rig decrease for gas for the week. The price of Western Canada Select (WCS) was trading down on Friday, trading down 2.45% at $37.77, essentially flat week on week.

While the Permian basin still boasts 102 more rigs than this time last year, the Utica, Arkoma Woodford, Barnett, Cana Woodford, DJ-Niobrara, Granite Wash, and the Mississippian basins each have fewer rigs than they did a year ago.

While the number of rigs in the United States are 104 more than this time last year, the EIA’s estimates for US production for the week ending August 31 were for an average of 11 million bpd, compared to 8.78 million bpd a year ago this week.

By 1:09pm EDT, WTI was trading down 0.59% (-$0.40) at $67.37. Brent crude was trading down 0.24% (-$0.18) at $76.32 per barrel.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • rjs on September 07 2018 said:
    re: "US production for the week ending August 31 were for an average of 11 million bpd, compared to 8.78 million bpd a year ago this week"

    a year ago was Harvey...

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News