US oil and gas drilling rigs remain at 589, down 33 from last year, with production forecasts mixed.

The number of active oil and gas drilling rigs in the US stayed at 589 this week, according to Baker Hughes. This is 33 fewer than last year, with 483 oil rigs and 102 gas rigs unchanged from the previous week. The Permian Basin, a key shale oil region, maintained 304 active rigs, down five from last year. US crude oil production is expected to increase to 13.2 million barrels per day in 2024 and 13.5 million in 2025, while natural gas output is projected to decline.

3 months ago
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