The total number of oil and gas rigs operating in the United States remained unchanged at 588 in the week ending August 28, Baker Hughes reported. Oil rigs fell by five to 447, matching the previous topic’s reported decline from 452, while gas rigs increased by five to 132 and miscellaneous rigs held at nine. The overall count was up 52 rigs, or 9.7%, from the same period last year. The Permian Basin count was unchanged at 267, while Texas added one rig to reach 282, its highest level since February 2025. The rig count is monitored as an early indicator of future production, although its effect on supply and oil prices is neither immediate nor direct. The US oil and gas rig count declined 7% in 2025, 5% in 2024 and 20% in 2023, as lower oil prices encouraged companies to prioritize shareholder returns and debt reduction over production growth.