United States Baker Hughes Total Rig Count

Info

History

Chart

Impact:

Low

Source: Baker Hughes Company

Latest Release:

Date:

Actual:

622

Forecast:

Previous/Revision:

620

Period: Dec/29

What Does It Measure?

The Baker Hughes Total Rig Count measures the number of active drilling rigs in the United States, providing crucial insights into the nation’s oil and natural gas exploration and production activities. This indicator primarily focuses on the health of the energy sector, assessing production potential and investment trends within the industry.

Frequency

The Baker Hughes Total Rig Count is released weekly, typically on Friday, providing a timely snapshot of drilling activity that is subject to revision in subsequent reports.

Why Do Traders Care?

Traders pay close attention to the rig count because it serves as a leading indicator of crude oil and natural gas supply, impacting energy prices and influencing related financial markets such as energy stocks and commodities. An increase in rig counts often signals higher production levels in the future, which can lead to bearish effects on oil prices, while a decrease can have the opposite impact.

What Is It Derived From?

The Baker Hughes Total Rig Count is derived from an aggregate of active drilling rigs reported across the United States, collected through direct surveys conducted with drilling contractors. These surveys compile detailed information on onshore and offshore active rigs, ensuring accurate representation of industry activity.

Description

The Baker Hughes Total Rig Count is commonly regarded as a leading economic measure because it reflects future production capabilities of oil and gas, which in turn can influence global energy prices and economic trends. This rig count closely correlates with energy market dynamics, acting as a barometer for investment levels and operational activity in the energy sector.

Additional Notes

The Baker Hughes Total Rig Count is often compared with other indicators, such as U.S. crude oil inventories and production levels, to provide a more comprehensive view of market conditions. Being a leading indicator, it offers insights into how future supply levels might affect broader economic trends as demand fluctuates globally.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for USD, Bearish for energy stocks. Lower than expected: Bearish for USD, Bullish for energy stocks. A hawkish tone: Signaling higher oil production could indicate stronger inflation concerns, is usually bad for the USD but good for energy stocks due to increased supply pressures.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Previous
Dec 29, 2023	622	620
Dec 22, 2023	620	623
Dec 15, 2023	623	626
Dec 08, 2023	626	625
Dec 01, 2023	625	622
Nov 22, 2023	622	618
Nov 17, 2023	618	616
Nov 10, 2023	616	618
Nov 03, 2023	618	625
Oct 27, 2023	625	624
Oct 20, 2023	624	622
Oct 13, 2023	622	619
Oct 06, 2023	619	623
Sep 29, 2023	623	630
Sep 22, 2023	630	641
Sep 15, 2023	641	632
Sep 08, 2023	632	631
Sep 01, 2023	631	632
Aug 25, 2023	632	642
Aug 18, 2023	642	654
Aug 11, 2023	654	659
Aug 04, 2023	659	664
Jul 28, 2023	664	669
Jul 21, 2023	669	675
Jul 14, 2023	675	680
Jul 07, 2023	680	674
Jun 30, 2023	682	687
Jun 23, 2023	687	687
Jun 16, 2023	687	695
Jun 09, 2023	695	696
Jun 02, 2023	696	711
May 26, 2023	711	720
May 19, 2023	720	731
May 12, 2023	731	748
May 05, 2023	748	755
Apr 28, 2023	755	753
Apr 21, 2023	753	748
Apr 14, 2023	748	751
Apr 06, 2023	751	755
Mar 31, 2023	755	758
Mar 24, 2023	758	754
Mar 17, 2023	754	746
Mar 10, 2023	746	749
Mar 03, 2023	749	753
Feb 24, 2023	753	760
Feb 17, 2023	760	761
Feb 10, 2023	761	759
Feb 03, 2023	759	771
Jan 27, 2023	771	771
Jan 20, 2023	771	775
Jan 13, 2023	775	772
Jan 06, 2023	772	779
Dec 30, 2022	779	779
Dec 23, 2022	779	776
Dec 16, 2022	776	780
Dec 09, 2022	780	784
Dec 02, 2022	784	784
Nov 23, 2022	784	782
Nov 18, 2022	782	779
Nov 11, 2022	779	770
Nov 04, 2022	770	768
Oct 28, 2022	768	771
Oct 21, 2022	771	769
Oct 14, 2022	769	762
Oct 07, 2022	762	765
Sep 30, 2022	765	764
Sep 23, 2022	764	763
Sep 16, 2022	763	759
Sep 09, 2022	759	760
Sep 02, 2022	760	765
Aug 26, 2022	765	762
Aug 19, 2022	762	763
Aug 12, 2022	763	764
Aug 05, 2022	764	767
Jul 29, 2022	767	758
Jul 22, 2022	758	756
Jul 15, 2022	756	752
Jul 08, 2022	752	750
Jul 01, 2022	750	753
Jun 24, 2022	753	740
Jun 17, 2022	740	733
Jun 10, 2022	733	727
Jun 03, 2022	727	727
May 27, 2022	727	728
May 20, 2022	728	714
May 13, 2022	714	705
May 06, 2022	705	698
Apr 29, 2022	698	695
Apr 22, 2022	695	693
Apr 14, 2022	693	689
Apr 08, 2022	689	673
Apr 01, 2022	673	670
Mar 25, 2022	670	663
Mar 18, 2022	663	663
Mar 11, 2022	663	650
Mar 04, 2022	650	650
Feb 25, 2022	650	645
Feb 18, 2022	645	635
Feb 11, 2022	635	613
Feb 04, 2022	613	610
Jan 28, 2022	610	604
Jan 21, 2022	604	601
Jan 14, 2022	601	588
Jan 07, 2022	588	586
Dec 31, 2021	586	586
Dec 23, 2021	586	579
Dec 17, 2021	579	576
Dec 10, 2021	576	569
Dec 03, 2021	569	569
Nov 24, 2021	569	563
Nov 19, 2021	563	556
Nov 12, 2021	556	550
Nov 05, 2021	550	544
Oct 29, 2021	544	542
Oct 22, 2021	542	543
Oct 15, 2021	543	533
Oct 08, 2021	533	528
Oct 01, 2021	528	521
Sep 24, 2021	521	512
Sep 17, 2021	512	503
Sep 10, 2021	503	497
Sep 03, 2021	497	508
Aug 27, 2021	508	503
Aug 20, 2021	503	500
Aug 13, 2021	500	491
Aug 06, 2021	491	488
Jul 30, 2021	488	491
Jul 23, 2021	491	484
Jul 16, 2021	484	479
Jul 09, 2021	479	475
Jul 02, 2021	475	470
Jun 25, 2021	470	470
Jun 18, 2021	470	461
Jun 11, 2021	461	456
Jun 04, 2021	456	457
May 28, 2021	457	455
May 21, 2021	455	453
May 14, 2021	453	448
May 07, 2021	448	440
Apr 30, 2021	440	438
Apr 23, 2021	438	439
Apr 16, 2021	439	432
Apr 09, 2021	432	430
Apr 01, 2021	430	417
Mar 26, 2021	417	411
Mar 19, 2021	411	402
Mar 12, 2021	402	403
Mar 05, 2021	403	402
Feb 26, 2021	402	397
Feb 19, 2021	397	397
Feb 12, 2021	397	392
Feb 05, 2021	392	384
Jan 29, 2021	384	378
Jan 22, 2021	378	373
Jan 15, 2021	373	360
Jan 08, 2021	360	351
Dec 30, 2020	351	348
Dec 23, 2020	348	346
Dec 18, 2020	346	338
Dec 11, 2020	338	323
Dec 04, 2020	323	320
Nov 25, 2020	320	310
Nov 20, 2020	310	312
Nov 13, 2020	312	300
Nov 06, 2020	300	296
Oct 30, 2020	296	287
Oct 23, 2020	287	282
Oct 16, 2020	282	269
Oct 09, 2020	269	266
Oct 02, 2020	266	261
Sep 25, 2020	261	255
Sep 18, 2020	255	254
Sep 11, 2020	254	256
Sep 04, 2020	256	254
Aug 28, 2020	254	254
Aug 21, 2020	254	244
Aug 14, 2020	244	247
Aug 07, 2020	247	251
Jul 31, 2020	251	251
Jul 24, 2020	251	253
Jul 17, 2020	253	258
Jul 10, 2020	258	263
Jul 02, 2020	263	265
Jun 26, 2020	265	266
Jun 19, 2020	266	279
Jun 12, 2020	279	284
Jun 05, 2020	284	301
May 29, 2020	301	318
May 22, 2020	318	339
May 15, 2020	339	374
May 08, 2020	374	408
May 01, 2020	408	465
Apr 24, 2020	465	529
Apr 17, 2020	529	602
Apr 09, 2020	602	664
Apr 03, 2020	664	728
Mar 27, 2020	728	772
Mar 20, 2020	772	792
Mar 13, 2020	792	793
Mar 06, 2020	793	790
Feb 28, 2020	790	791
Feb 21, 2020	791	790
Feb 14, 2020	790	790
Feb 07, 2020	790	790
Jan 31, 2020	790	794
Jan 24, 2020	794	796
Jan 17, 2020	796	781
Jan 10, 2020	781	796
Jan 03, 2020	796	805