U.S. Oil Rig Count Climbs as Hormuz Attacks Disrupt Global Shipping

The U.S. oil rig count increased for the week, signaling potential for future production growth, amid a sharp escalation in Middle East tensions that has severely disrupted shipping through the vital Strait of Hormuz.

U.S. Drilling Activity

Energy services firm Baker Hughes reported on Friday that U.S. energy companies added one oil rig this week. This brings the total active rig count to 455, the highest level recorded since May 2025.

The rig count is a closely watched forward-looking indicator for the oil industry, as a higher number of active rigs generally points to an increase in future crude oil production.

Geopolitical Tensions Escalate

Shipping traffic through the Strait of Hormuz, a critical chokepoint for global oil supplies, came to a near standstill on Friday. The disruption followed attacks on two oil tankers on Thursday, according to the United Arab Emirates’ state news agency WAM.

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The two vessels were owned by the state-controlled Abu Dhabi National Oil Company. The UAE government has characterized the incident as an Iranian attack. In the wake of the attacks, transit levels through the strait fell below the monthly average.

Market Context

These developments introduce significant geopolitical risk into the global energy market, as a prolonged disruption in the Strait of Hormuz could tighten supplies. The modest increase in the U.S. rig count occurs against this volatile international backdrop.

Separately, on the U.S. domestic front, refining activity remains steady. Data from IIR Energy projects that U.S. refiners will have 163,000 barrels per day of capacity offline next week, a figure consistent with the current week's levels.