October 13, 2025 – Market Insight

The U.S. oil and gas rig count, a critical barometer of upstream activity and energy sector health, saw a modest change this week, reflecting ongoing market adjustments in response to global oil prices, supply-demand dynamics, and geopolitical tensions.

Regional Highlights

• Permian Basin: Activity remained robust
• Eagle Ford: Stable performance with little fluctuation, indicating operators are maintaining discipline amid price uncertainty.
• Williston & DJ Basin: Slight declines were noted, possibly due to weather delays or budget season planning.

Market Implications

With WTI crude oil currently hovering around, producers are cautiously optimistic, balancing capital discipline with the need to maintain output.

Expectations for Q4 remain mixed:

• Bullish operators are betting on supply constraints and higher winter demand.
• Cautious players are watching for demand softness in Europe and Asia and potential macroeconomic slowdowns.

Looking Ahead

As we enter the final quarter of 2025, all eyes are on:

• OPEC+ policy decisions in November
• U.S. election season energy narratives
• Winter heating demand forecasts