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U.S. Oil Rig Count Rises as Oil Tops $100

Julianne Geiger · September 11, 2026 · Week 2026-37

Summary

The US active rig count saw a minor increase, according to Baker Hughes data, as Brent crude prices traded above $100 per barrel. This indicates a slow but steady supply response from US shale producers to the high-price environment, a key factor in the global supply balance that OPEC+ seeks to manage.

Strategic Implication

Continued growth in US shale production in a high-price environment acts as a counterweight to OPEC+ supply cuts, potentially capping the upside for crude prices and influencing future quota decisions.

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