The Baker Hughes weekly rig count for the United States remained unchanged at 588 oil and gas rigs in the week ending August 28, 2026. This total represents an increase of 52 rigs, or 9.7%, compared with the same week a year earlier. Within the count, oil rigs declined by five to 447, while gas rigs rose by five to 132; the nine miscellaneous rigs were unchanged. The Permian Basin, the nation’s largest shale oil formation, held steady at 267 rigs. Texas, the state with the most rigs, added one rig to bring its total to 282, the highest level observed since February 2025. Over the longer term, the combined oil and gas rig count has been falling, decreasing 7% in 2025, 5% in 2024, and 20% in 2023, a trend attributed to lower U.S. oil prices that prompted energy companies to focus on shareholder returns and debt reduction rather than expanding production.