Friday, December 19, 2025

Crude Oil and Rig Count Move in Unison

As of last week, rig count is 78% lower than the previous low in 2010   Crude oil price and rig count have moved primarily in conjunction with one another over the years. Rig count has fallen 81% since the most recent high of 2,094 during Q3 2014. The recent average high oil price came in Q2 2014 at $103.06/barrel,