U.S. energy companies added oil and natural gas rigs for the fifth consecutive week. This is the longest streak of increases since February 2025.
According to Baker Hughes data, the total rig count rose by 7 to 558 in the week ending May 22. This is the highest level since June 2025.
Oil rigs increased by 10 to 425, the largest single-week addition since February 2023. Natural gas rigs decreased by 3 to 125.
The total count is still down 8 rigs (1%) compared to the same period last year.
