Ron_Artest 2,754 Posted 9 hours ago https://boereport.com/2026/01/09/us-drillers-cut-oil-and-gas-rigs-for-first-time-in-three-weeks-baker-hughes-says-3 The oil and gas rig count declined by about 7% in 2025, 5% in 2024, and 20% in 2023 as lower U.S. oil prices in recent years prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output. The independent exploration and production companies tracked by financial services firm TD Cowen said they planned to keep capital expenditures flat in 2026 after planning to cut spending by around 4% in 2025. With U.S. spot crude prices expected to fall for a fourth year in a row in 2026, the U.S. Energy Information Administration projected crude output would decline from a record 13.6 million barrels per day in 2025 to around 13.5 million bpd in 2026. Share this post Link to post Share on other sites
