U.S. drilling activity remains firmly elevated on a year-over-year basis even as weekly moves stay modest. Baker Hughes’ traditional rotary count printed 604 active U.S. rigs for the week ending November 6, 2026 (up 1 week-over-week and up 56 from a year earlier). Oil-directed rigs reached 463 (+1) and gas-directed rigs 131 (+1). WellDatabase’s operator-level […]
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The U.S. Department of Energy on October 10, 2026, authorized an emergency exchange of up to 4 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) to address supply disruptions from hurricane activity in the Gulf of America. Source –Energy ExxonMobil and BP America each received authority for up to 2 million barrels. […]
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The U.S. Energy Information Administration (EIA) released its latest Weekly Petroleum Status Report on June 3, 2026, covering data for the week ending May 29, 2026. The report reveals a significant tightening in U.S. petroleum inventories, with a massive combined draw in commercial crude oil and Strategic Petroleum Reserve (SPR) stocks. Analyst Ole S. Hansen […]
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U.S. crude oil and petroleum product exports have hit unprecedented levels in recent weeks, even as the Biden-era Strategic Petroleum Reserve (SPR) continues to be drawn down at a record pace to help stabilize global markets amid ongoing disruptions from the Iran conflict and the Strait of Hormuz blockade. According to the latest data, total […]
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