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Oil rig count falls for 14th consecutive week: Baker Hughes
01/08/2025
Argaam Exclusive
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The number of active oil drilling rigs in the US declined during the week ending August 1, marking the 14th consecutive weekly drop, .
The oil rig count fell by five units to a total of 410, according to data released Friday by Baker Hughes.
Meanwhile, the number of active natural gas rigs increased by two units during the same period, reaching 124.
Oil and gas exploration platforms - USA
| Item | Year Before | Last Week | Current | Weekly Change | Yearly Change |
|---|---|---|---|---|---|
| No. of Rig Count | 482 | 415 | 410 | (5) | (72) |
| Gas | 98 | 122 | 124 | 2+ | 26 |
| Oil & Gas | 580 | 537 | 534 | (3) | (46) |
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Name
Price
Change (value)Change (%)
Brent Crude Oil
67.16
0.32
0.48 %
Nymex
62.96
0.28
0.44 %
Natural Gas
2.96
0.01
0.24 %
Gold
3,641.52
(1.53)
(0.04 %)
Silver
42.20
0.02
0.04 %
High Grade Copper
4.48
(0.01)
(0.30 %)
Iron Ore
102.03
(0.38)
(0.37 %)
Aluminum
2,545.75
(8.00)
(0.31 %)
LEAD
2,003.00
(14.00)
(0.69 %)
Zinc
2,956.50
6.50
0.22 %
Steel
825.00
0.00
0.00 %
Wheat (CBOT)
524.50
0.40
0.08 %
Corn (CBOT)
425.25
(4.60)
(1.08 %)
Coffee (ICEUS)
410.00
12.85
3.24 %
Whole Milk Powder
4,812.50
(100.00)
(2.08 %)
Skim Milk Powder
2,700.00
(87.50)
(3.24 %)
Refining margins
10.76
(1.13)
(9.50 %)
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