On Friday, February 6, U.S. energy services company Baker Hughes reported that the number of active oil and gas drilling rigs operated by U.S. energy companies increased for the third consecutive week. As of the week ending February 6, the total number of oil and gas drilling rigs in the United States rose by 5 to 551, reaching the highest level since November 2025.
PriceSeek Analysis
Crude Oil, Bull-Bear Score: -1
Baker Hughes reported that the total number of U.S. oil and gas drilling rigs increased by 5 to 551, marking three consecutive weeks of growth and reaching the highest level since November 2025. This indicates a potential increase in future crude oil supply, exerting downward pressure on spot prices. While signals of rising supply typically suppress prices, the current increase is not yet significant, resulting in a moderately bearish score of -1.
Natural Gas, Bull-Bear Score: -1
The growth in drilling rig numbers also points to an increase in natural gas supply potential. The consecutive upward trend reinforces market expectations of oversupply, exerting bearish pressure on spot prices. Although rising supply may weigh on prices, the data has not yet reached a significant turning point, leading to a moderately bearish score of -1.
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