Story
US Energy Rig Count Holds Steady for Second Consecutive Week, Baker Hughes Reports
Summary
The total number of active U.S. oil and gas drilling rigs was unchanged for a second straight week at 588, according to Baker Hughes. This stability comes amid a multi-year decline in drilling activity, even as the EIA forecasts record production.
The total number of active U.S. oil and gas drilling rigs held steady for a second consecutive week at 588, according to the latest data from energy services firm Baker Hughes. The report reflects drilling activity for the week ending Sept. 5.
Rig Count Details
A minor shift between oil and gas activity left the total count unchanged. The number of rigs drilling primarily for crude oil increased by two, while the number of gas-focused rigs decreased by the same amount.
- Oil rigs: +2 to 449
- Natural gas rigs: -2 to 130
- Miscellaneous rigs: Unchanged at 9
Broader Drilling Trends
The recent stability contrasts with a persistent multi-year decline in U.S. drilling. Baker Hughes data shows the total rig count fell by 20% in 2023, 5% in 2024, and a further 7% in 2025.
AdThis downward trend has been largely attributed to a period of lower U.S. oil prices, which prompted energy companies to prioritize shareholder returns and debt reduction over capital expenditures on new production.
Future Production Outlook
Despite the lower rig count, the U.S. Energy Information Administration (EIA) projects continued growth in domestic energy output. The agency forecasts U.S. crude oil production will rise from a record 13.6 million barrels per day (bpd) in 2025 to 13.8 million bpd in 2026.
The EIA noted that higher projected WTI crude prices in 2026, influenced by potential supply disruptions, could incentivize this increased output. For natural gas, the agency expects production to increase from a record 107.6 billion cubic feet per day (bcfd) in 2025 to 111.2 bcfd in 2026. This growth is underpinned by rising electricity demand from data centers and expanding demand for liquefied natural gas (LNG) exports.
Read next
More on Commodities
US-China Summit to Tackle Key Commodity Disputes in Agriculture, Energy
The upcoming meeting between President Trump and President Xi is expected to focus on resolving trade frictions involving U.S. agricultural exports, Chinese energy tariffs, and the supply of critical rare earth materials.
Citi Warns Hawkish Fed Policy Threatens Non-AI Economic Growth
A recent report from Citi Research warns that the Federal Reserve's hawkish monetary policy could suppress the U.S. housing market and make the broader economy dangerously dependent on AI investment.
Petrobras Board Approves Participation in New Government Diesel Subsidy Program
Brazil's state-run oil company, Petrobras, will join a new government program providing a 1.00 real per liter subsidy on diesel, a move aimed at stabilizing fuel prices ahead of the upcoming presidential election.
Oil Prices Retreat as China Urges Iran to Curb Houthi Attacks on Saudi Facilities
Crude oil futures fell on Friday after reports that China, at Saudi Arabia's request, pressured Iran to rein in Houthi attacks, easing some geopolitical supply fears. However, ongoing pipeline disruptions and refining constraints continue to support the market.