US rig count falls to 598 as oil rigs edge higher

· Oil & Gas · United States

New Baker Hughes data showed the total number of active US oil and gas rigs falling this week to 598, which is up 49 from the same time last year. The number of active oil rigs rose by 1 to 456.

Why it matters：Rig counts are the timeliest read on US upstream activity and shape expectations for future shale output, even when the weekly move is small.

Key points

  • The total rig count stands 49 above the same week a year ago.
  • Oil rigs rose by 1 to 456 in the latest report.

Sources (original reporting)

More stories from this day