The number of active oil rigs increased by two, reaching 449, while gas-focused drilling activity retreated by two to 130 rigs. This shift occurs as U.S. crude production continues to climb, averaging 13.862 million barrels per day for the week ending August 28. This output represents a steady gain from the 13.843 million barrels per day recorded the prior week and a significant surge of 423,000 barrels per day compared to the same period last year.

Downstream activity shows signs of hesitation, however. Primary Vision’s Frac Spread Count—a key metric for well completion crews—dropped by four to 180, marking a second consecutive week of decline. Regional performance varied, with the Permian Basin adding one rig to reach 268, while the Eagle Ford remained static at 50. Markets reacted with caution ahead of these disclosures, as Brent crude settled at $95.27 per barrel and WTI slipped to $90.60.