US oil production is projected to decline by about 1 million barrels per day by the second half of 2025 unless rig counts increase, according to Adam Rich, deputy CIO at Vaughan Nelson in Houston. Vaughan Nelson executives suggest that oil prices need to reach $90 per barrel to incentivize an increase in rig counts. The latest Baker Hughes report indicates that the US oil rig count has decreased by 4 to 488, while the total rig count has fallen to 590 from 594. Current production levels of 12-13 million barrels per day could be maintained for six to nine more months without an increase in rig counts.
Baker Hughes US oil rig count -4 https://t.co/PRIA2tJFQW
US oil rigs w/w changes in key shale basins Permian -1 to 307 Eagle Ford unchanged at 48 Williston unchanged at 34 Cana Woodford -1 to 16 DJ Niobrara unchanged at 10 Baker Hughes #oott
US oil-directed rig count declined by 4 to 488. #Oil #Shale #Rigs https://t.co/GFUw1UHLPR
🇺🇸 United States U.S. Baker Hughes Oil Rig Count $USD Actual: 488 Previous: 492
🇺🇸 United States U.S. Baker Hughes Total Rig Count $USD Actual: 590 Previous: 594
The latest US Baker Hughes total rig count has decreased to 590, falling short of the previous count of 594 and missing forecasted numbers.
US oil rigs -4 to 488 Baker Hughes #oott
US BAKER HUGHES OIL RIG COUNT ACTUAL 488 (FORECAST -, PREVIOUS 492) $MACRO
U.S. BAKER HUGHES TOTAL RIG COUNT ACTUAL: 590 VS 594 PREVIOUS U.S. BAKER HUGHES OIL RIG COUNT ACTUAL: 488 VS 492 PREVIOUS
#OOTT | US Baker Hughes Rig Count 14-Jun: 590 (prev 594) - Rotary Gas Rigs: 98 (prev 98) - Rotary Oil Rigs: 488 (prev 492)
US BAKER HUGHES TOTAL RIG COUNT ACTUAL 590 (FORECAST -, PREVIOUS 594) $MACRO
"We could probably keep the 12-13 million barrel-per-day level for six to nine more months, but if we don't see rig counts really start moving up here, that's going to be a big problem." https://t.co/vy2ISfpLSR https://t.co/2ZyhhRpKdH
"US oil production is set to decline about 1 million barrels per day by the second half of 2025 unless rig counts rise," said Adam Rich, deputy CIO at Vaughan Nelson in Houston. https://t.co/u32Aueu3aD
US Oil Output To Fall Next Year Unless Rig Counts Rise, Key Energy Investor Says - Bloomberg Drop of 1 million barrels per day possible as fields decline Vaughan Nelson exec says $90 oil needed to boost rig counts
US Oil Output To Fall Next Year Unless Rig Counts Rise, Key Energy Investor Says Drop of 1 million barrels per day possible as fields decline Vaughan Nelson exec says $90 oil needed to boost rig counts #oott https://t.co/8YFsmJz9MM
US oil production is set to decline about 1 million barrels per day by the second half of 2025 unless rig counts rise, a key energy investor said https://t.co/ZWMaksFf2z