US Drillers Add Most Oil Rigs in a Week Since March
The oil and gas rig count, an early indicator of future output, rose three to 622 in the week to Oct. 13.
US Drillers Cut Oil, Gas Rigs for Third Week In a Row
Drillers have cut active rigs for three quarters in a row in a delayed response to the sharp drop in prices since the middle of 2022.
US Drillers Cut Oil and Gas Rigs for Third Quarter in a Row
The oil and gas rig count, an early indicator of future output, fell by seven to 623 in the week to Sept. 29.
$70, $80, $90? No Matter WTI Price, Production to Creep Along
As public E&Ps hold fast with capital discipline, even exuberant prices might not be enough to substantially bump up production, although private operators remain a wild card, analysts said.
US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks
U.S. oil rigs fell by eight to 507 this week, their lowest since February 2022, while gas rigs dropped by three to 118.
Strong Demand is Keeping Oil Prices Elevated—But for How Long?
Rig counts are falling—a reflection of higher interest rates and labor costs that now affect drilling costs, moving break-even prices even higher out in the price curve.
US Drillers Add Most Oil, Gas Rigs in a Week Since November
Despite this week's rig increase, Baker Hughes said the total count was still down 122, or 16%, below this time last year.
What's Affecting Oil Prices This Week? (Sept. 11, 2023)
The extension of the supply cuts from OPEC+ have overcome concerns about global oil demand and to push price of Brent crude above $90 for the first time since November 2022.
US Drillers Add Oil Rigs for First Time Since June
U.S. energy firms this week increased the number of oil rigs operating for the first time since June.
US Drillers Cut Oil and Gas Rigs for Eighth Week in a Row
U.S. energy firms this week cut the number of active oil and natural gas rigs for an eighth week in a row, says Baker Hughes.