U.S. Oil Drilling Activity Climbs Despite Market Cooling

Domestic oil production hit 13.955 million barrels per day as the active rig count edged higher, even as global benchmark prices retreated. While gas drilling slowed, the energy sector remains significantly more active than this time last year, with completion crews continuing to ramp up operations for the third consecutive week.

Today, 05:31· Money Talk· 292 reads

U.S. Oil Drilling Activity Climbs Despite Market Cooling

Baker Hughes reported a modest increase of one active oil rig, bringing the national total to 456. This growth contrasts with the natural gas sector, which shed two units to settle at 133. Despite the mixed rig performance, industry momentum persists at the wellhead; Primary Vision’s Frac Spread Count rose by eight crews to 195, signaling sustained investment in well completion.

Production output continues to climb, with the latest EIA figures showing a rise to 13.955 million barrels per day. Regional activity remains uneven, as the Permian Basin held steady at 270 rigs, while the Eagle Ford shed one unit to reach 49. These operational shifts occurred against a backdrop of softening market prices, with Brent trading at $101.10 and WTI at $90.50 following announcements regarding the release of emergency crude and diesel reserves in Europe.

U.S. Oil Drilling Activity Climbs Despite Market Cooling

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