US Oil Rigs Climb for Seventh Straight Week to 431 as Total Hits 563

US energy firms added rigs for a seventh consecutive week through June 5, lifting the total rig count by one to 563—its highest since May 2025. Baker Hughes data show oil rigs rising two to 431 while gas rigs slipped one to 124, marking the longest streak of increases since 2022. Weekly crude output averaged 13.707 million bpd with Permian rigs reaching 257 and frac spreads climbing to 192. Prices eased to Brent $94.02 and WTI $91.47 amid incremental supply resilience. EIA forecasts point to modest output gains in 2026, suggesting mixed near-term price implications.