02 Aug Baker Hughes Rig Count: International +27 to 1,073, : U.S. +1 to 588 Canada +15 to 219
U.S. Rig Count is up 1 from last week to 588 with oil rigs up 1 to 451, gas rigs unchanged at 127 and miscellaneous rigs unchanged at 10.
Canada Rig Count is up 15 from last week to 219 with oil rigs up 12 to 150, gas rigs up 1 to 63 and miscellaneous rigs up 2 to 6.
International Rig Count is up 27 from last month to 1,073 with land rigs up 18 to 833, offshore up 9 to 240.
The Worldwide Rig Count for June was 1,822, up 88 from the 1,734 counted in May 2026, and up 60 from the 1,762 counted in June 2025
| Region | Period | Rig Count | Change |
| U.S.A | 31 July 2026 | 588 | +1 |
| Canada | 31 July 2026 | 219 | +15 |
| International | June 2026 | 1,073 | +27 |
| Baker Hughes |
The Worldwide Rig Count for June was 1,822.
The Baker Hughes International rig count is a monthly census of “active” drilling rigs exploring for or developing oil or natural gas outside North America (US & Canada).
The Baker Hughes rig count defines active rigs as rigs that are actively conducting drilling operations on a given well For a rig to be active the below conditions must be met:
• The rig must be drilling (turning to the right)
• Drilling needs to have occurred for a majority of the week (4 days out of 7)
• The active rig must be working on a well which is a significant consumer of oilfield products and services
| Region | Period | Rig Count | Change |
| Africa, Land/Offshore | June 2026 | 120 | +14 |
| Middle East, Land/Offshore | June 2026 | 488 | +4 |
| Asia-Pacific, Land/Offshore | June 2026 | 206 | +7 |
| Latin America, Land/Offshore | June 2026 | 132 | -5 |
| Europe Land/Offshore | June 2026 | 127 | +7 |
| Baker Hughes |
(Oilandgaspress) 01/08/26, US president Donald Trump says he will hold off on a threatened fresh round of strikes against Iran after “the perimeters of a deal [have] been agreed to” by Tehran and America’s Middle East allies. Trump reportedly stated that he had cancelled the strikes “subject to being able to rapidly make a DEAL”, and that Israel had agreed to support the move. Related News
The Michigan Supreme Court has ordered state regulators to reconsider a key permit that allowed a planned tunnel to carry an oil pipeline under part of the Great Lakes to move forward.
The 6-1 decision further clouds the future of the 73-year-old pipeline owned by Canadian energy transportation company Enbridge that carries petroleum from Superior, Wisconsin, to Sarnia, Ontario. Enbridge wants to bury the pipeline in a tunnel under the straits. Environmentalists and Michigan Gov. Gretchen Whitmer want to move the pipeline away from the waterway altogether saying a spill would be catastrophic to the Great Lakes and surrounding area. Related News
Washington is reportedly investigating why gasoline costs so much.
Chevron reported record net income of $12.2 billion, nearly five times its year-ago profit. Exxon earned $14.5 billion, double what it made during the same quarter last year and its best result since oil prices soared following Russia’s invasion of Ukraine.
The Iran war sent crude prices sky high after Gulf production fell and tanker traffic through the Strait of Hormuz collapsed. It did worse things to gasoline and diesel markets, where Middle Eastern refinery outages piled onto lost Russian capacity and China’s reluctance to export more fuel.
Chevron’s refining profit jumped to $4.9 billion from $737 million a year earlier. Exxon’s refining business earned $5.5 billion after losing $1.3 billion in the first quarter.
Exxon CFO Neil Hansen said the bigger price problem is no longer crude. It is the shrinking availability of the products made from it. Related News
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