Baker Hughes Rig Count
a.k.a. Rig count
A weekly count of active oil and gas drilling rigs, mostly watched for the US, published by oilfield firm…
In plain English
A weekly count of active oil and gas drilling rigs, mostly watched for the US, published by oilfield firm Baker Hughes.
The Baker Hughes rig count comes out every Friday and tallies how many drilling rigs are actually working. More rigs usually means producers expect good prices and plan to pump more; fewer rigs, the reverse.
It moves slowly and acts with a lag on supply, but oil traders use it to read the mood of producers. Through oil, it can nudge currencies like the Canadian dollar.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.