Baker Hughes US Rig Count Falls to 543, Oil Rigs at 409
Baker Hughes recorded 543 active US rigs this week, down six sequentially and 49 from last year, with oil rigs at 409 (-5) and gas rigs at 127 (-4). Permian rigs fell two to 241 while US crude production dropped for a fifth week to 13.657 million bpd.
1. Weekly Rig Count Declines
Baker Hughes reported a drop to 543 active US drilling rigs this week, reflecting a loss of six rigs from the prior week and 49 fewer rigs year-over-year. This marks the second consecutive weekly decline, the first back-to-back drop since mid-January.
2. Oil, Gas and Regional Breakdown
Active oil rigs fell by five to 409, while gas rigs declined by four to 127 and miscellaneous rigs remained at seven. Regionally, the Permian Basin saw a two-rig decrease to 241 rigs, and the Eagle Ford count held at 42 rigs, six below last year’s level.
3. Production Trends and Price Context
US crude output slid for a fifth straight week to 13.657 million barrels per day, down 11,000 bpd week-over-week and 205,000 bpd below the all-time high. Elevated Brent and WTI prices above $111.80 and $98 per barrel may sustain pressure on drilling activity and services demand.