US Rig Count Holds Steady at 603 for Third Consecutive Week

The total number of active U.S. oil and gas drilling rigs held flat at 603 for the third consecutive week, according to Baker Hughes data for the week ended October 30. Oil rigs increased by 2 to 462, while natural gas rigs fell by 2 to 130, leaving overall activity unchanged week-over-week but up by 57 units compared to last year. Across key basins, the Permian remained flat at 272 rigs, while the Eagle Ford shed one rig. Meanwhile, completion crews dropped by 5 to 194, and U.S. crude output averaged 13.992 million barrels per day.