Investing.com -- The total number of active oil and gas rigs in the United States remained at 588 for the week ending today, marking the second straight week without change, according to Baker Hughes.

Oil rigs increased by 2 to reach 449 this week, while gas rigs decreased by 2 to 130. Miscellaneous rigs stayed at 9, the energy services firm reported Friday.

The overall rig count has declined in recent years, falling 7% in 2025, 5% in 2024, and 20% in 2023. Lower U.S. oil prices during that period led energy companies to prioritize shareholder returns and debt reduction over production growth.

The U.S. Energy Information Administration forecasts crude output will increase from a record 13.6 million barrels per day in 2025 to 13.8 million barrels per day in 2026. The agency attributes the expected rise to higher spot West Texas Intermediate crude prices in 2026, driven by supply disruptions from the Iran war.

For natural gas, the EIA projects production will grow from a record 107.6 billion cubic feet per day in 2025 to 111.2 billion cubic feet per day in 2026. The increase reflects rising demand for electricity generation at data centers and for liquefied natural gas exports.