US Rig Count Falls 3 to 601 as Oil Rigs Hold at 463 and Weekly Crude Output Sets Another Record

US drillers cut three rigs this week, the first weekly decline in six weeks, but oil production just keeps setting records.

Baker Hughes reported today, Nov. 13, that the total US rig count fell to 601 in the week ended Nov. 13. That is the lowest since Oct. 2. The count is still up 52 rigs, or 9.5%, from a year ago.

Oil rigs flat, gas rigs drop

Oil rigs were unchanged at 463. That is 46 above a year ago, an 11% gain.

The entire weekly decline came from natural gas. Gas rigs fell by four to 127, their lowest since August. They are only 2 above the same week last year, up 1.6%. Miscellaneous rigs rose by one to 11.

In the Permian Basin, the country's busiest field, operators added two rigs to reach 275. That is 22 more than a year ago.

Primary Vision's frac spread count, an estimate of crews completing wells, rose by four to 195. It is up 22 from a year earlier.

Output keeps climbing

The EIA's weekly data put US crude production at 14.013 million barrels per day for the week ending Nov. 6. That is up from 14.003 million the week before and 151,000 bpd above a year ago. It is the third straight weekly record.

The EIA's own annual outlook, as of its latest projection, has US crude output rising from a record 13.7 million bpd in 2025 to 13.9 million bpd in 2026. The latest weekly reading is above that full-year figure.

Flat rig counts alongside rising output mean producers are getting more oil from each rig. No source in the data attributes the output gain to any single cause.

Prices stay high

Prices were firm into the data release. Before the report, Brent was at $96.09, up 3.59% on the day, and WTI was at $89.00, up 2.85%. Late-afternoon Central time quotes had WTI at $88.56 and Brent at $96.38.

The EIA has said it expects spot WTI prices to rise in 2026 for the first time in four years, citing supply disruptions from the Iran war. Higher prices are a direct cost to anyone who drives, ships or heats with fuel.

The EIA's price view does not match every market read. The International Energy Agency said this week that Russian crude production has rebounded following a Trump diesel deal, and that oil markets are returning to surplus.

A shrinking drilling fleet after three lean years

The current count follows a long slide. The oil and gas rig count dropped 20% in 2023, 5% in 2024 and 7% in 2025. Lower oil prices pushed energy firms to prioritize shareholder returns and debt paydown over growth.

The gas outlook points the other way. The EIA projects US gas output will jump from a record 107.6 billion cubic feet per day in 2025 to 113.0 bcfd in 2026. It cites demand from power-hungry data centers and from LNG exports. This week's four-rig gas drop sits against that forecast.

Jobs and shipping

Oil and gas employment is not following the production numbers. Preliminary federal figures cited by Rigzone show the sector's payrolls at 113,900 in October, down from 114,500 in September and the lowest of 2026 so far.

Separately, the administration extended a Jones Act shipping waiver by 90 days. The waiver is meant to allow freer movement of oil and other commodities, Reuters reported.

In Texas, newly elected Railroad Commissioner Jon Rosenthal, a Cypress Democrat, said in Midland that he would push to raise salaries, boost production and speed up orphan well plugging, according to the Texas Tribune. He has named a transition team.

What to watch

WTI near $89 has not yet produced a clear jump in oil rig counts. The oil count is 46 above last year but flat on the week.

The next Baker Hughes survey will show whether drillers add rigs at these prices or keep relying on efficiency to lift output. It will also show whether gas rigs keep falling while the EIA forecasts a record year for gas production.