Baker Hughes US oil rig count 659 vs 638 prior

Author: Adam Button | Category: News

US active oil and gas drilling rigs from Baker Hughes:

  • Total rigs 876
  • Prior total 857
  • Natural gas rigs 214
  • Prior natural gas 216
  • Prior oil 638
  • Horizontal rigs +12

This is bearish for oil. US producers are drilling more despite falling prices. There's other evidence of a pickup as well. Pipeline producer NuStar Energy revealed today it was increasing capacity in key shale areas, which is a sign that more oil is expected to come online.

US active oil rigs are creeping up

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