Baker Hughes says US energy companies have added rigs six times in the last seven weeks.
Baker Hughes, a leading energy services company, said that U.S. firms added rigs this week for the sixth time in 7 weeks. The number of oil and gas drilling rigs, which is an early indicator of future production, increased by one in the week ending July 31. Baker Hughes stated that the increase of 48 rigs or 9% over this time last week is a result of this week's increases. Baker Hughes reported that oil?rigs increased by one this week to 451 - their highest level since mid-July. Gas rigs were unchanged at 127, and miscellaneous other rigs?remained at 10.
Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.
Baker Hughes, a closely-followed energy'services' firm, said in a report on Friday that U.S. firms have cut back the number of operating rigs for the first six weeks. Total oil and gas rig counts, an indicator of future production, dropped by one in the week ending July 24. This is the lowest level since mid-July. Baker Hughes said that despite this week's decline in rig count, the total number was still 45 rigs or 8% higher than this time last. Baker Hughes reported that oil rigs dropped by two this week to 450…
Baker Hughes reports that US energy companies have increased the number of rigs to their highest level since April 2025.
Energy services firm Baker Hughes reported on Friday that U.S. firms added rigs this week for a fifth consecutive week for the first since early June. The 'total count' now stands at its highest level since April 2025. The total rig counts, which are an early indicator of the future production, increased by seven in the week ending July 17. Baker Hughes reported that the total rig counts are up by?44 or 8% from this time last week. Baker Hughes reported that oil rigs increased by seven this week to 452, the highest level since May 2025.
Baker Hughes reports that US energy companies have added rigs to their fleets for the fourth consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added rigs this week for the fourth consecutive week for the first since early June. Baker Hughes normally releases the report around 1700 GMT on Fridays at?1 pm EDT. The report was released 49 minutes later. Baker Hughes officials did not comment on the cause of the delay. The number of oil and gas drilling rigs, which is a good indicator of future production, increased by one in the week ending July 10 to 581, its highest level since May 2025.
US EIA: Global oil production to return to pre Iran war levels by the end of this year
The U.S. Energy Information Administration stated on Tuesday that global oil production?and?trade flows will fully recover by the end this year after the disruptions caused due to the Iran War. The EIA reported that the global benchmark Brent crude oil price will average $74 per barrel on the spot market in the third quarter this year. This is down from an?average of $85 in June. Last month, the agency forecast Brent prices to average more than $101 per barrel in the third quarter.
EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
?U.S. The Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, said that the power consumption will continue to rise in 2026-2027 due to data centers with AI and electrification. The EIA projects that the power demand in 2027 will increase from 4,195 billion Kilowatt-hours in 2025, to 4,269 billion in 2026, and 4,399 in 2027. The demand for electricity is increasing as more homes and businesses switch to electric heat and vehicles and use less fossil fuels.
US EIA: Global oil production to return to pre Iran war levels by the end of this year
The?U.S. Energy Information Administration says that global oil production and trade flows will?rebound completely by the end of the year from the disruptions caused the Iran war. Energy Information Administration?reported on Tuesday. The EIA reported that Brent crude oil, the global benchmark, will average $74 per barrel on the spot market in the third quarter, down from $85 per barrel on average in June. Last month, the agency forecast Brent prices to 'average over $100 a barrel during the third quarter.
Baker Hughes reports that US energy companies have added rigs to their fleets for the third consecutive week.
Baker Hughes, a provider of energy services, said that U.S. firms?added drilling rigs this week for the third consecutive week. The number of oil and gas rigs, a good indicator of future production, increased by 7 in the week ending July 2. This is its highest level since May 2025. Baker Hughes published the rig counts report one day earlier than normal due to the U.S. The 4th of July holiday is celebrated on Friday, 3rd July. Baker Hughes reported that 'this week, the increase brings the total rig counts up by 41 rigs or 7.6% over a year ago.
Baker Hughes reports that US energy companies have added the most rigs per week in a row since June 2022.
Baker Hughes, an energy services company, said in its report on Friday that the U.S. energy companies?had experienced their largest weekly increase of rigs since June 2022. The number of oil and gas rigs, a good indicator of future production, increased by 10 during the week ending June 26. This is the biggest weekly increase in the last four years. Total rig count reached 573, its highest level since May 2025. Baker Hughes said this week's rise in rig counts puts the total up by 26 rigs or 5% over this time last.
Baker Hughes says US energy companies have added rigs eight times in nine weeks.
Baker Hughes, a widely followed energy services company, said Thursday that U.S. firms added rigs this week for the eighth time in nine weeks. The oil and gas rig count rose to 563, its highest level since early June, in the week ending June 18. Baker Hughes released its report one day earlier than usual due to the "U.S. The Juneteenth holiday falls on Friday. Baker Hughes reported that the total rig count had increased by nine rigs or 2% over this time last week. Baker Hughes said that oil rigs remained at 433 in this week.
Baker Hughes reports that US energy companies have cut back on drilling for the first time in eight-weeks.
Baker Hughes, a well-respected energy services company, said that U.S. firms had 'cut back on the number of operating rigs for the first time in 8 weeks. The number of oil and gas rigs, a good indicator of future production, dropped by one to 562 during the week ending June 12. Baker Hughes reported that the decline this week has pushed up the total number of rigs by 7, or 1.3%, when compared with this time last year. Baker Hughes reported that the number of oil and gas rigs increased by 2 this week to 433, the highest total seen since June 2025.
EIA: US power consumption will surpass previous records in 2026 and '27, as AI usage surges.
The Energy Information Administration's Short-Term Energy Outlook released on Tuesday said that the U.S. electricity consumption will continue to rise in 2026-2027 due to data centers with AI and electrification. EIA predicted that power demand would rise from 4,195 billion kilowatt hours (kWh) at a record in 2025, to 4,271 kWh?in?2026, and 4,397 kWh in '2027. The demand is soaring in part due to data centers that are dedicated to artificial intelligence, cryptocurrency and homes and businesses using more electricity.
Baker Hughes reports that US energy companies have added rigs to their fleets for the seventh consecutive week.
Baker Hughes, a leading energy services firm, said in its closely watched report published on Friday that U.S. firms added rigs this week for the seventh week 'in a row' for the first since May 202. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending June 5. It is now at its highest level since May 2025. Baker Hughes reported that the total number of rigs was up by four rigs or 1% compared to this time last year. Baker Hughes reported that oil rigs rose by two this week to 431, the highest level since June 2025.
Baker Hughes reports that US drillers have added oil and natural gas rigs to their fleet for the sixth consecutive week.
Energy services firm Baker Hughes said that U.S. energy firms added oil and gas rigs in the United States for a sixth consecutive week. This is the first time since May '2022. The number of oil and gas drilling rigs, a good indicator of future production, increased by four in the week ending May 29 to 562, its highest level since May 2025. Baker Hughes stated that despite this week's increase in rigs, the total number of rigs was still down by one rig compared to this time last year.
EIA: US crude production is largely unchanged from March.
According to Energy 'Information Administration, on Friday, U.S. crude oil production was largely stable in March. It stood at 13.7 million barrels per a day. The crude production in Texas fell to 5.78 million barrels per day, a four-month record low. Meanwhile, the output in New Mexico, a neighboring state, was stable for the month, at 2.31 millions bpd. The Permian Basin is located in Texas and New Mexico. It accounts for approximately half of the U.S. crude oil output. The U.S.
Baker Hughes reports that US drillers have added oil/gas rigs to their fleet for the fifth consecutive week.
Baker Hughes, an energy services firm, said in its widely-read report published on Friday that U.S. firms added oil and gas rigs this week for the 'fifth consecutive week' for the 'first time since February 2025. The number of oil and gas drilling rigs, a good indicator of future production, increased by seven in the week ending May 22 to 558, its highest level since June 2025. Baker Hughes reported that despite this week's increase in?rigs, the total count is still eight rigs lower, or 1%, than this time last.
Baker Hughes reports that US drillers have added oil/gas rigs to their fleet for the fourth consecutive week.
Baker Hughes, a closely watched energy services firm, said in its report on Friday that U.S. firms added oil and gas rigs for a fourth consecutive week. In the week ending May 15, the oil and gas rig counts, which is an early indicator of future production, increased by three, to 551 - its highest level since late March. Baker Hughes reported that despite a?this week?s increase in rig count, the total number was still down 25 rigs or 4% from this time last year. Baker Hughes reported that oil rigs increased by five this week to 415, the highest level since November 2025.
US EIA admits Middle East supply disruptions far worse than previous estimates
The U.S. 'Energy Information Administration' revised its forecasts on Tuesday to reflect a larger and longer hit to global?oil supply from the Iran War than they had previously projected. This highlights the uncertainty which has been roiling broader energy markets ever since the conflict started three months ago. Energy analysts found it hard to predict how long and deep the disruptions in oil markets would be from the Middle East war, particularly since U.S. The…
EIA: US natgas production to reach record highs in 2026 while demand declines
The U.S. Energy Information Administration's Short-Term Energy Outlook released on Tuesday predicted that U.S. natural?gas production will reach a new record in 2026 while demand will decrease. EIA predicted dry gas production would rise from a record of 107.7 billion cubic feet per day (bcfd), in 2025, to 110.6 bcfd by 2026?and 115.0 in 2027. The agency also predicted that domestic gas consumption would fall from an all-time high of?91.9 billion cubic feet per day in 2025, to 91.2 billion cubic feet per day in 2026 and then rise to 94.4 billion cubic feet per day in 2027.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleets for the second week running.
Baker Hughes, a renowned energy services firm, said that U.S. firms added oil and natural gas rigs this week for the second week in a row. This is the first addition since mid-March. In the week leading up to May 1, the oil and gas rig counts, an early indicator for future production, increased by three, to 547, its highest level since early April. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or?6% lower than this time last year.