News & Macrohigh confidence
North America Loses Rigs for 3 Straight Weeks
rigzone.com · September 9, 2026 · Week 2026-37
Summary
The North American rotary rig count has declined for the third consecutive week, according to data from Baker Hughes. This trend is a leading indicator for future US and Canadian oil and gas production, suggesting a potential slowdown that could tighten non-OPEC+ supply.
Strategic Implication
A sustained drop in the US rig count could ease pressure on OPEC+ to manage supply, potentially supporting higher crude prices beneficial to MENA producers.