US Drilling Rig Activity Holds Steady Amid Crude Production Uptick

Active oil rigs increased by three to reach 454, marking a lead of 43 rigs over the same period last year. Conversely, gas rigs shed three units to settle at 124. Despite the static rig count, domestic production continues to climb. EIA figures show U.S. crude output averaged 13.804 million barrels per day for the week ending July 31, surpassing the previous week’s 13.796 million barrels.

Regional activity centered on the Permian Basin, where operators added three rigs to reach a total of 263, while the Eagle Ford basin held steady at 49. Downstream, the Primary Vision Frac Spread Count—a proxy for well-completion activity—dipped by four to 194 crews. Market sentiment responded to the production data on Friday, with Brent crude rising 1.29% to $83.55 per barrel and WTI climbing 1.19% to $78.21, though both benchmarks remain lower than their valuations one week ago.