The US rig count reached 588 with just one more oil rig, even as WTI held near $85 a barrel

According to new Baker Hughes data published on Friday, 31 July 2026, the total number of active oil and gas drilling rigs in the United States rose this week to 588, up 48 from the same time last year.

The number of active oil rigs rose by just one, to 451, which is 41 above the same time last year. Gas rigs were unchanged at 127, three more than a year ago, and miscellaneous rigs held at 10. In the Permian Basin the rig count rose by 2 to 260, only one rig above year ago levels, and in the Eagle Ford it rose by 2 to 49, ten more than the same time last year. Primary Vision's frac spread count, an estimate of the number of crews completing wells, rose by 2 in the week ending 24 July to 198 crews, after losing 4 the week before.

According to US Energy Information Administration data, weekly US crude oil production fell slightly in the week ending 24 July, averaging 13.796 million barrels per day against 13.798 million the previous week and 482,000 barrels per day more than a year ago. Oil prices were higher on Friday: Brent was trading up 1.03% at $89.95 and West Texas Intermediate up 1.29% at $84.67, although Brent is $6 a barrel below where it stood the same time last week.