The number of rigs drilling for oil in the U.S. rose by five this week to 445, which was up by 20 from a year ago and the most since the end of May 2025, oil services company Baker Hughes reports. The rig count has risen in nine of the 10 past weeks as higher crude oil prices encourage drilling. Even as flows from the Middle East return with the reopening of the Strait of Hormuz, the need to refill inventories is expected to support demand in months ahead. Rigs directed at natural gas increased by one this week to 126, or 18 more than a year ago, according to Baker Hughes. (anthony.harrup@wsj.com)
Dow Jones Newswires
U.S. Oil Rig Count Rises by 5 to 445 — Market Talk
The number of rigs drilling for oil in the U.S. rose by five this week to 445, which was up by 20 from a year ago and the most since the end of May 2025, oil services company Baker Hughes reports. The rig count has risen in nine of the 10 past weeks as higher crude oil prices encourage drilling. Ev…