1335 ET - The number of wells drilling for oil in the U.S. is unchanged this week at 418, down 64 from a year ago, while gas rigs edged up by one to 121, oil services company Baker Hughes reports. U.S. oil production is at a record high above 13.6 million barrels a day, according to EIA data, despite the lower rig count. "The resiliency of the shale patch has been something for years," says John Kilduff of Again Capital. WTI has fallen this week below $60 a barrel, but the price would probably need to go to $50-$55 before there's much of a reaction in the industry, he says. "It's not low enough to change behaviors just yet in terms of dialing back output." (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

October 17, 2025 13:35 ET (17:35 GMT)

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