U.S. Oil Rig Count Drops: What's Behind the Decline?

The U.S. oil rig count has taken a surprising turn, dropping significantly despite record-breaking crude oil production. In this video, we delve into the latest data from Baker Hughes, which reveals a 65-year-over-year decline in oil rigs, while gas rigs show a slight increase. We explore the reasons behind this shift, focusing on the Permian and Eagle Ford basins, and discuss its potential impact on the energy market.
Discover why the rig count is falling even as production soars, and what it means for the future of U.S. oil and gas operations. Stay tuned for expert insights and analysis!