Baker Hughes data shows 563 active rigs, signaling sustained drilling activity amid energy sector recovery.
The US oil and gas rig count increased by one to 563 this week, extending its growth streak to seven consecutive weeks. This marks the longest expansion since 2022 and the highest total in over a year, reflecting rising drilling activity.
Last week’s count stood at 562, with the prior six-week streak already indicating a rebound in energy sector investment. The current level remains below the 2023 peak but aligns with pre-pandemic trends.
The report suggests steady demand for drilling services, potentially supporting crude production and energy infrastructure spending.