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Basin rig count up five as prices slide

  • The rig count in the Permian Basin increased by five to 303 active rigs, although this is still eight fewer than last year.
  • Nationally, the total oil and gas rig count rose by six to 582, down 37 from the same time last year.
  • Weekly U.S. Crude oil production fell to 13.240 million bpd, the lowest since November 2024, according to EIA data.
  • Oil prices decreased, with the WTI benchmark ending at $72.53 per barrel, down $2.13 from the previous week.
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