The US drilling rig count held at 603 this week even as oil prices rose over the past week. Weekly US crude output fell, while Brent and WTI both traded higher than a week earlier.
The total number of active US oil and gas rigs stayed unchanged at 603, according to Baker Hughes data published on Friday. That is 55 more than a year ago.
Oil rigs, however, fell by 3 to 459, 41 above the same time last year. Gas rigs rose by 1 to 133, and miscellaneous rigs rose by 2 to 11.
In the Permian Basin, the rig count fell by 2 to 272, still 21 above year-ago levels. The Eagle Ford count held at 49, 5 more than a year earlier.
EIA data showed weekly US crude oil output averaged 13.679 million bpd in the week ending October 9, down from 13.979 million bpd the previous week and up just 43,000 bpd from a year ago.
Meanwhile, Primary Vision's Frac Spread Count, an estimate of crews completing wells, rose by 7 to 203 in the week ending October 9, its fifth gain in as many weeks.
Prices were lower on Friday before the data release, but remain above last week's levels. Brent traded at $105.60 per barrel, down 0.30% on the day and up $2 from a week earlier. WTI traded at $97.56, down 0.42% on the day but up nearly $6 per barrel from the same time last week.
Source: Oilprice.com
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