08-08-2025
US Shale Drillers Add One Rig, Break 14-Week Streak of Declines
Shale oil producers added a single drill rig this week after 14 consecutive weeks of declines, staving off at least for now a pandemic-level downturn in US activity.
Rigs drilling for oil in the US rose by 1 to 411, according to Baker Hughes Co. data released Friday. Since the start of May, the count had fallen in the longest streak since an 18-week drop in July 2020 and reached the lowest level since September 2021.
