Baker Hughes: US energy companies leave rig count unchanged for the latest week
?U.S. Energy firms have left the total rig count unchanged for the last week, according to a closely watched report by energy services firm Baker Hughes on Friday.
The number of oil and gas drilling rigs, a good indicator of future production, remained unchanged at 588 during the week ending August 7, compared to the previous week.
Baker Hughes reported that the total number of rigs was up by?49 or 9% compared to this time last.
Baker Hughes reported that oil rigs increased by three this week to 454 - their highest level since May 2025. Gas rigs, on the other hand, fell by three - to 124 – their lowest level since July 2026.
Oil and?gas production declined by 7%, 5%, and 20% between 2025 and 2023, as energy firms focused more on increasing shareholder returns and paying off debt than increasing output. Spot U.S. West Texas Intermediate Crude prices will rise in 2026 as a result of supply disruptions caused by the Iran War after declining in 2023,2024,and 2025. Last month, the U.S. Energy?Administration predicted that crude production would rise from 13.6 million barrels a day in 2025 to 13.8 millions bpd by 2026. The EIA predicted that the gas output would jump from a record of 107.7 billion cubic feet per day to 111.3 bcfd in 2026, as the demand for fuel increases to power data centers and export liquefied gas. (Reporting and editing by Rod Nickel.)
(source: Reuters)
