Baker Hughes data shows a 26-rig increase year-over-year as drilling activity accelerates amid stable energy prices.
The US oil and gas rig count climbed to 573 this week, marking a 26-rig increase from the same period last year. Oil rigs rose by 7 to 440, while gas rigs added 3 to reach 125, both outpacing year-ago levels by 8 and 16, respectively.
The increase reflects sustained drilling activity as energy markets stabilize. Last year’s rig count averaged 550, with oil and gas prices recovering from 2023 lows. The miscellaneous rig count remained unchanged at 8.
No immediate market reaction was reported, though the rise signals potential supply growth in coming months.