US energy rig count falls for first time in eight weeks in Oil & Companies News 15/06/2026 The number of oil and gas rigs operating in the United States decreased for the first time in eight weeks, according to data released by Baker Hughes (NYSE:BKR) on Friday. The total rig count dropped by one to 562 in the week ending June 12. The count remains seven rigs, or 1.3%, higher than the same period last year, Baker Hughes said. Oil rigs increased by two to 433 this week, marking the highest total since June 2025. Gas rigs fell by three to 121, the lowest level since October 2025. The oil and gas rig count declined by 7% in 2025, 5% in 2024, and 20% in 2023. Lower U.S. oil prices during those years led energy companies to prioritize shareholder returns and debt reduction over production growth. Spot U.S. West Texas Intermediate crude prices are expected to rise in 2026 due to supply disruptions from the Iran war, following declines in 2023, 2024, and 2025. The U.S. Energy Information Administration projected crude output would increase to 13.7 million barrels per day in 2026 from a record 13.6 million barrels per day in 2025. Source: Investing.com 2026-06-15 hellenicshippingnews... tweet Share