US energy firms keep rig count unchanged for second week in a row
XLE•The US oil and gas rig count held at 603 in the week ended October 23, unchanged for a second week and 53 rigs, or 10%, above the year-earlier level.
1. Rig count steady
The total US oil and gas rig count held at 603 for the week ended October 23. Oil rigs rose by one to 460, gas rigs fell by one to 132, and miscellaneous rigs remained at 11.
2. Output projections
The Energy Information Administration projected crude output would rise from a record 13.7 million barrels per day in 2025 to 13.9 million in 2026. It projected natural gas output would increase from a record 107.6 billion cubic feet per day in 2025 to 112.2 billion in 2026.
