Key Points
- U.S. active rigs fell by four this week to 580.
- Oil rigs are down 19 compared to last year, gas rigs by 22.
- Crude oil output slightly decreased to 13.481 million barrels per day.
According to figures provided Friday by Baker Hughes, the number of active oil and gas drilling rigs in the United States decreased by four this week, to a total of 580. Compared to the same period last year, there are 40 fewer rigs now.
U.S. active oil and gas rigs decrease to 580
Compared to this time last year, there were 19 fewer oil rigs, down 2 this week to 478. Additionally, gas rigs fell by two, ending up at 98, which is 22 lower than it was a year ago. At four, miscellaneous rig activities stayed constant.
As stated by Oilprice, the Energy Information Administration (EIA) reported that weekly U.S. crude oil output decreased to 13.481 million barrels per day (bpd) for the week ending January 10. This is a little less than the record high of 13.631 million bpd recorded in December 2024 and a decrease from 13.563 million bpd the week before. According to Primary Vision, the Frac Spread Count, which measures the number of personnel finishing incomplete wells, decreased by six to 195.
Permian Basin steady, but Eagle Ford Basin sees fewer rigs
There were 304 active rigs in the Permian Basin, which is the same number as last week but three fewer than the previous year. Although there are now 44 rigs in the Eagle Ford Basin, this is still 11 fewer than there were during the same time last year.
Prior to the revelation of the rig count, oil prices were trading lower. West Texas Intermediate (WTI) oil was down $0.36 (-0.46%) at $78.32 per barrel at 12:07 a.m. ET on Friday, while it was still almost $3 higher than it was the previous Friday. At $81.21, down $0.11 (-0.14%) from the previous week’s finish, Brent crude was up about $2.25.
