🚨 U.S. OIL DRILLING SLOWS DOWN 🇺🇸🛢️

Fresh data from the Baker Hughes report shows drilling momentum in the U.S. is clearly cooling:

• Active U.S. oil rigs fell to 409, down from 412 last week

• That’s 71 fewer rigs compared to the same time last year

• Total rigs (oil + gas) are also trending lower, sitting around 542–544

📍 Permian Basin Update:

The biggest U.S. oil-producing region continues to see rig reductions, reinforcing the broader slowdown in drilling activity.

📊 Why this matters:

• Rig counts are a forward signal for future oil supply

• Fewer rigs = slower production growth ahead

• Producers remain cautious amid price pressure and global oversupply

• If demand holds, reduced drilling could tighten supply over time

👀 Market view:

WTI and Brent prices remain mostly range-bound as traders balance lower drilling activity against inventories and macro uncertainty.

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Quick Stats:

🛢️ U.S. Oil Rigs: ~409

📉 Weekly Change: −3

📉 Yearly Change: −71

📌 Total U.S. Rigs: ~542–544

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