Economic Calendar > Calendar Details
USAAs of the week ending May 22ndTotal number of oil drilling rigs
| Latest Release | Actual Value | Forecast Value | Previous Value | Next Release Time | Release Frequency | Importance |
|---|---|---|---|---|---|---|
| 2026-05-23 | 425mouth | mouth | 415mouth | 2026-05-30 01:00 | Weekly |
|
Historical Data
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Definition
Baker Hughes publishes weekly U.S. oilfield rotary drilling rig counts. Rotary rigs rotate the drill string from the surface to drill new wells (or sidetrack existing wells) for the exploration, development, and production of oil or gas; this includes only rigs that have a significant impact on oilfield services and supply, excluding cable tool rigs, pickup truck rigs, or rigs that can operate without a license. Non-rotary rigs are also counted depending on usage. For example, coiled tubing and workover rigs used for drilling new wells are also counted. An "active rig" must be drilling on-site or "turning right" to be considered an "active rig." The rig is considered active from the moment it "starts drilling" until it reaches its target depth (TD). Rigs transported from one location to another, installed, or used for non-drilling activities (such as workovers, completions, or production tests) are not counted.
Impact on Market
Why It Matters
A higher number of drilling rigs (active drilling) suggests a larger potential supply of oil, which theoretically is bearish for crude oil prices. FX678 and 1QH remind you: According to parameters from authoritative international media, the correlation between this indicator and [the price of crude oil] is 29%.
Released By
Baker Hughes, an American oilfield services company
