U.S. Oil Rig Count Extends Climb -- Market Talk

Dow Jones06-13 01:46

1346 ET - The number of rigs drilling for oil in the U.S. rose by two this week to 433 in a seventh straight increase, oil services company Baker Hughes reports. The EIA expects higher oil prices to encourage drilling activity, raising crude oil production to 13.7 million barrels a day this year from 13.6 million b/d in 2025, and to 14.2 million b/d in 2027. "Rising crude oil prices drive crude oil production higher in our forecast, which results in growth in associated natural gas production," the EIA said this week in its latest monthly outlook. Rigs directed at natural gas fell by three this week to 121, according to Baker Hughes. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 13:46 ET (17:46 GMT)

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The EIA expects higher oil prices to encourage drilling activity, raising crude oil production to 13.7 million barrels a day this year from 13.6 million b/d in 2025, and to 14.2 million b/d in 2027. \"Rising crude oil prices drive crude oil production higher in our forecast, which results in growth in associated natural gas production,\" the EIA said this week in its latest monthly outlook. Rigs directed at natural gas fell by three this week to 121, according to Baker Hughes. 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