The active oil and gas rig count rose to 573, marking the ninth increase in ten weeks amid heightened drilling activity.
The US oil and gas rig count climbed by 10 to 573 this week, the largest weekly gain since June 2022. This marks the ninth increase in the past ten weeks, signaling a sustained rebound in drilling activity.
Prior to this week, the rig count had shown steady growth, reflecting improved market conditions and higher energy prices. The last comparable surge occurred nearly two years ago, underscoring a shift in industry momentum.
The increase may indicate rising production expectations, though market reactions remain tied to broader energy demand trends.