Home / Business and Economy / Permian Rig Count Drops Amid Falling Oil Prices
Permian Rig Count Drops Amid Falling Oil Prices
13 Jun
Summary
- Permian Basin rig count decreased by one, now at 256 active rigs.
- National oil rig count is down to 562, with oil exploration rigs increasing.
- Regional and national oil prices saw a decrease of $5.66 per barrel.
The Permian Basin's active rig count has seen a reduction of one, bringing the total to 256 rigs as of the latest count. This figure is lower than the 273 active rigs recorded in the same period last year.
Nationally, the oil and gas rig count has also experienced a slight decrease, now at 562 rigs. However, within this national figure, rigs dedicated to oil exploration have increased by two, while those focused on natural gas exploration have decreased by three.
The price of oil experienced a notable decline. The regional benchmark Plains-West Texas Intermediate Posting closed at $81.36 per barrel, reflecting a drop of $5.66 from the previous week's close. Similarly, the national benchmark West Texas Intermediate crude ended the week at $84.88 per barrel, also down $5.66.
