US oil rig count steadies at 588 as oil rigs rise and gas rigs fall

The United States maintained a total of 588 active oil and gas drilling rigs this week, according to Baker Hughes data. Oil rigs increased by three to 454, a level 43 above the same period last year, while gas rigs slipped by three to 124, just one above last year’s count. Miscellaneous rigs held steady at 10.

Crude prices rose modestly, with Brent trading at $83.55 a barrel and WTI at $78.21. Weekly U.S. crude output averaged 13.804 million barrels per day, a slight increase from the previous week and up 520,000 bpd from a year earlier. The Permian Basin saw its rig count rise to 263, seven above a year ago, while the Eagle Ford held at 49 rigs, 11 above the prior‑year level.