The number of rigs drilling for oil in the U.S. fell by two this week to 407, and was down by 79 from a year ago, oil services company Baker Hughes reports. Natural gas rigs edged up by one to 134, or 32 more than a year ago. The EIA forecasts U.S. oil production this year to hold steady at 13.6 million barrels a day on average. But the slowdown in drilling activity due to lower oil prices is expected to have an effect on output in 2027, when the agency sees production falling to 13.3 million barrels a day. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
February 27, 2026 13:33 ET (18:33 GMT)
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