NewsSignalsAI analysis·Mace News·Nov 13, 2026

CANADA BAKER HUGHES OIL & GAS RIG COUNT +10 IN LATEST WEEK FROM PREVIOUS WEEK AT 233

Grade Bbearish AI signal$WTI$BRENT

Canada's Baker Hughes oil and gas rig count increased by 10 in the latest week to 233, signaling an expansion in drilling activity. The reported figure represents a 10-rig increase from the previous week. Rising Canadian drilling activity could support expectations of stronger future energy production and potentially pressure crude prices.

Bullish strength: 35/100

Canadian oil and gas rig count increased by 10, indicating expanding drilling activity.

Bearish strength: 65/100

Higher drilling activity could contribute to increased future energy supply.

This is automated NewsSignalsAI analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

Read the original source ↗

← Browse more news analysis

Trade on MEXC

More recent source-attributed AI analysis in macro.

US energy firms cut rigs for first time in six weeks, says Baker Hughes

US energy firms cut the total oil and gas rig count by three to 601 this week, marking the first decline in six weeks and the lowest level since October 2. Gas rigs fell by four to 127, their lowest since August, while oil rigs remained unchanged at 463; the total count is still 9.5% higher than a year ago. The decline could signal near-term restraint in drilling activity, although projected growth in oil and natural gas production for 2026 could limit concerns about future supply.

U.S. Oil Rig Count Unchanged at 463 — Market Talk

The U.S. oil rig count remained unchanged at 463 this week, while drilling activity remains significantly higher than a year ago, signaling continued strength in domestic oil production. Baker Hughes reported 46 more oil rigs than a year earlier, while the EIA expects U.S. output to reach a record 13.9 million barrels per day in 2026 and 14.3 million in 2027. Rising production, higher net imports and slightly lower refinery inputs could accelerate crude inventory builds in 2027, potentially pressuring oil prices.

Gasoline refining margins edge up

Northwest European gasoline refining margins climbed $1.95 per barrel on Friday to $7.32, signaling improved refining profitability. The margin increased from $5.37 previously, while November gasoline exports from the EU-27 and UK averaged 537,000 barrels per day, down from October's 863,000 barrels per day. Higher refining margins could support European refiners' profitability, while weaker regional export volumes may reflect softer external demand or changing trade flows.

North Sea Crude - Forties gains on firmer bid and offer

North Sea Forties crude strengthened as bids and offers firmed in the latest Platts trading window, while Ekofisk faced weaker bidding. Glencore bid for December Forties cargoes at dated Brent minus $1.10, while Vitol offered November cargoes at dated Brent minus $1; no deals were reported on Friday. Forties could maintain support if buying interest strengthens, although the absence of completed trades leaves the market direction uncertain.

Browse more historical news from November 2026 →