U.S. Oil Rig Count Falls to Lowest Level Since November 2021 -- Market Talk

Dow Jones

May 24, 2025

1339 ET - The number of rigs drilling for oil in the U.S. fell by eight this week to 465, oil services company Baker Hughes reports, reaching its lowest level since November 2021 as producers react to low oil prices. "The falling price of oil has surely contributed to curb investment in U.S. shale during the course of the past few months. But another factor that has come to bite companies is the rising wellhead oil breakevens," Francisco Blanch of Bank of America Securities says in a note. And with shale productivity gains slowing, "total U.S. crude oil supply could peak as soon as the next 24 months," he adds. Rigs directed at natural gas fell by two this week to 98, down by 1 from a year ago. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

May 23, 2025 13:39 ET (17:39 GMT)

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But another factor that has come to bite companies is the rising wellhead oil breakevens,\" Francisco Blanch of Bank of America Securities says in a note. And with shale productivity gains slowing, \"total U.S. crude oil supply could peak as soon as the next 24 months,\" he adds. Rigs directed at natural gas fell by two this week to 98, down by 1 from a year ago. (anthony.harrup@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 23, 2025 13:39 ET (17:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Oil Rig Count Falls to Lowest Level Since November 2021 -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Oil Rig Count Falls to Lowest Level Since November 2021 -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-24 01:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1339 ET - The number of rigs drilling for oil in the U.S. fell by eight this week to 465, oil services company Baker Hughes reports, reaching its lowest level since November 2021 as producers react to low oil prices. \"The falling price of oil has surely contributed to curb investment in U.S. shale during the course of the past few months. But another factor that has come to bite companies is the rising wellhead oil breakevens,\" Francisco Blanch of Bank of America Securities says in a note. And with shale productivity gains slowing, \"total U.S. crude oil supply could peak as soon as the next 24 months,\" he adds. Rigs directed at natural gas fell by two this week to 98, down by 1 from a year ago. (anthony.harrup@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 23, 2025 13:39 ET (17:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z3B42.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2537715623","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537715623","pubTimestamp":1748021940,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1339 ET - The number of rigs drilling for oil in the U.S. fell by eight this week to 465, oil services company Baker Hughes reports, reaching its lowest level since November 2021 as producers react to low oil prices. \"The falling price of oil has surely contributed to curb investment in U.S. shale during the course of the past few months. 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But another factor that has come to bite companies is the rising wellhead oil breakevens,\" Francisco Blanch of Bank of America Securities says in a note. And with shale productivity gains slowing, \"total U.S. crude oil supply could peak as soon as the next 24 months,\" he adds. Rigs directed at natural gas fell by two this week to 98, down by 1 from a year ago. (anthony.harrup@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  May 23, 2025 13:39 ET (17:39 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}