Total US Oil Rig Count for the Week Ending October 31: Market Impact Expected

Leading oilfield services provider Baker Hughes released data on October 4, 2025, reporting the total number of US oil rigs for the week ending October 31. The reported figure is 1,761,930,000; no forecast or previous value was provided.This metric tracks weekly changes in the number of oil drilling rigs across North America. The data is considered highly significant for the market: an increase in rig count may heighten concerns about a global crude oil supply surplus, potentially driving oil prices lower, while a decrease may support higher prices.This indicator is rated as having a high level of importance (level 3). Baker Hughes compiles this data by conducting weekly surveys of oil drilling activity in the US and Canada. The data is published every Saturday, with the next release scheduled for November 8, 2025.

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