What is the current U.S. total oil and gas rig count, and how does it compare to recent historical levels?

The U.S. total rig count rose by seven to 588 in the week ending July 17, marking its highest level since April 2025; oil rigs increased by seven to 452 — the highest since May 2025 — while gas rigs held steady at 126 and miscellaneous rigs remained at 10.

How do recent rig count trends reflect broader industry shifts in investment priorities and production outlook?

After declines of 20% in 2023, 5% in 2024, and 7% in 2025 — driven by lower oil prices prompting firms to prioritize shareholder returns and debt reduction over output growth — the rig count has now risen for five consecutive weeks, reaching 588, with the U.S. Energy Information Administration projecting crude output will increase from 13.6 million bpd in 2025 to 13.8 million bpd in 2026 and natural gas output from 107.7 bcfd to 111.3 bcfd over the same period.

US Energy Firms Boost Rig Count to Highest Since April 2025, Baker Hughes Says

Jul 17, 2026

U.S. energy firms boosted their rig count to a five-week high since April 2025, per Baker Hughes. The EIA forecasts rising crude and gas output in 2026 amid growing demand from data centers and LNG exports.

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