Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

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Deep Fundamental Analysis

Pickup in Gas Rigs Drive U.S. Oil & Gas Rig Count Higher

U.S. Oil and Gas Rig Count Continues on Downward Trend

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Commodities

<ul>
<li>The US oil and gas rig count declined by three to 586 for the week ending 02/Aug, following two consecutive weeks of increases. </li>
<li>The US oil rig count held steady at 482, after rising by 5 last week. Gas rigs decreased by three to 98, marking a second consecutive weekly decline.  </li>
<li>In May, US crude oil production experienced its first monthly decline since January, while natural gas output dropped to its lowest level since February 2023. </li>
</ul>


The US oil and gas rig count declined by three to 586 for the week ending 02/Aug, following two consecutive weeks of increases. 
The US oil rig count held steady at 482, after rising by 5 last week. Gas rigs decreased by three to 98, marking a second consecutive weekly decline.  
In May, US crude oil production experienced its first monthly decline since January, while natural gas output dropped to its lowest level since February 2023. 


Drop in Gas Rigs Drives US Rig Count Downward

Crude Oil

Drop in Gas Rigs Drives US Rig Count Downward