• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 14 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 2 hours China gets caught?
  • 6 mins Which type of Hegemony will China follow
  • 4 hours Demand for Diesel vs. Oil
  • 17 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 12 mins Us Shale: Moving the US shale revolution forward
  • 2 days Here is Why People Lose Money Trading Natural Gas
  • 18 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Let’s take a Historical walk around the Rig
  • 2 days US Shale: Technology
  • 2 days Governments that wasted massive windfalls

Breaking News:

Oil Prices Rise On Surprise Crude Draw

Alt Text

Find Gas Stations Near You On Oilprice.com

No matter where you are…

Alt Text

Tesla: Sell On The Trumpets

Tesla’s share price has skyrocketed…

Alt Text

Demand Fears Are Driving Today’s Oil Markets

The outbreak and escalation of…

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. Rig Count Rises As Oil Holds Firm

The number of active oil and gas rigs rose this week, according to Baker Hughes data, increasing by 11 total rigs. This brings the total number of oil and gas rigs to 947, which is an addition of 235 rigs year over year.

The number of oil rigs in the United States rose by 12 this week after falling last week. The number of gas rigs decreased by a single rig. The number of oil rigs stands at 759 versus 566 a year ago. The number of gas rigs in the US now stands at 188, up 145 a year ago.

At 11:19am EST, the price of a WTI barrel was trading up $0.47 (+0.72%) to $65.98—almost $2.00 above this same time last week. The Brent barrel, on the other hand, was trading down $0.03 (-0.04%) to $69.94.

US crude oil production rose again, to 9.878 million bpd, from 9.750 million bpd the week before, setting another new high.

Canada has seen severe swings in its active oil and rig count in weeks past. But the last three weeks have seen steady gains. In the two weeks prior, Canada added more than 200 oil and gas rigs. This week, Canada added another 13, bringing its total to 338, although the rigs are still down year over year. Canada’s oil and gas rig count from a year ago was 345. While oil rigs are up 20 year over year, gas rigs in Canada are down 27.

The Permian basin rig count accounted for much of this week’s gains, increasing by 18 rigs this week, now standing at 427 rigs versus 291 rigs a year ago this week. The Marcellus basin also added 4 rigs, with Granite Wash adding one. Barnett, Cana Woodford, Eagle Ford, Haynesville, Mississippian, and Utica all lost rigs.

At 1:09pm EST, WTI was trading at $66.16 (+$0.65) with Brent trading at $70.19 (+$0.22).

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