• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 11 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 37 mins Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 8 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 10 hours IMO2020 To scrub or not to scrub
  • 6 hours California's Oil Industry Collapses Despite Shale Boom
  • 8 mins Global Warming Making The Rich Richer
  • 4 hours Rural and Conservative: Polish Towns Go 'LGBT free' Ahead Of Bitter European Election Campaign
  • 3 hours Misunderstanding between USA and Iran the cause of current stand off, I call BS
  • 5 hours North Dakota oil output totals 1.39 million b/d in March, up 4% on month: state
  • 11 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 3 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 16 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 16 hours Devastating Sanctions: Iran and Venezuela hurting
Alt Text

OPEC+ Top Priority: Don’t Crash Oil Prices

OPEC+ is reportedly considering increasing…

Alt Text

Oil Markets Must Prepare For Maximum Fear

Oil prices this week are…

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

Trending Discussions

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

Trending Discussions


Leave a comment

Leave a comment




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