1324 ET [Dow Jones]--The number of rigs drilling for oil in the U.S. fell by three this week to 407, and was down by 68 from a year ago, Baker Hughes reports. Higher oil prices since the beginning of March haven't prompted companies to step up drilling. The Dallas Fed did a follow-on to its 1Q survey of energy companies to collect industry views in light of the conflict in the Middle East. For 2026, 43% said they expect U.S. oil production to rise but by no more than 250,000 barrels a day, while 17% expect an increase between 250,000 and 500,000 b/d and 30% expect no change. For 2027, the most chosen response was an increase of 250,000 to 500,000 b/d. Respondents noted high market volatility and uncertainty, with one commenting that operators "cannot plan rigs and capital budgets when prices swing wildly based on tweets." Natural-gas rigs rose by four this week to 129. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 24, 2026 13:28 ET (17:28 GMT)
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