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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Baker Hughes Oil Rig Count climbed to 425 in May 2026
FMPMonthlyReleased May 2026
US Baker Hughes Oil Rig Count climbed to 425 in May 2026, up 10 from April's 415 reading. The reading matched the 416 consensus. Baker Hughes Oil Rig Count has now risen for 5 consecutive months. Over the past 3 months, Baker Hughes Oil Rig Count averaged 410.42, vs 410 in the prior 3-month window. Baker Hughes Oil Rig Count is now the highest in 8 months.
Latest Release
425
Actual
416
Consensus
415
Previous
Median Absolute Error
±3.45
across last 12 releases
Last Call
May 2026
Predicted: 411.5
Actual: 425
Error: -13.5
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Baker Hughes Oil Rig Count (United States) was reported at 433.00 in June 2026. The reading rose from the previous value of 431.00. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 416.02, ranging from 406.00 to 438.00 across 44 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 431.00, up from the prior three at 417.00. Volatility over the past year (σ 7.62) is lower than the prior year (σ 9.26). In June readings over the past 3 years, Baker Hughes Oil Rig Count has averaged 477.08.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 3.45.
WHAT TO WATCH NEXT
The next release is scheduled for June 18, 2026. Same-country events in the next 14 days include NY Empire State Manufacturing Index (Jun 15) and Industrial Production MoM (Jun 15).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Baker Hughes Oil Rig Count - US
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About Baker Hughes Oil Rig Count — United States
DEFINITION
The Baker Hughes Oil Rig Count is a widely recognized financial indicator that tracks the number of active oil rigs in the United States. This data is used by investors, analysts, and industry professionals to gauge the current state of the oil and gas market and make informed decisions about investments and production. The count is released weekly and is considered a key measure of the health and activity of the oil industry, providing valuable insights into supply and demand dynamics.
WHY THIS INDICATOR MATTERS
Energy-supply and inventory data shape commodity-curve positioning and feed through to headline inflation and consumer-discretionary spending. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 433. Prior reading (Jun 2026): 431. Before that (May 2026): 429.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.