"U.S. Oil and Gas Industry Faces Continued Drilling Slowdown"

The total number of active drilling rigs for oil and gas in the United States fell by 2 to 619, with oil rigs down by 2 and gas rigs down by 1 compared to last year. U.S. crude oil production remained at 13.2 million bpd, while completion crews continued to decrease, reaching their lowest level since December 2021. Oil prices rose due to supply fears in the Red Sea, with WTI trading at $73.06 and Brent at $78.55.