FX.co ★ U.S. Oil Rig Activity Flat as Baker Hughes Count Holds Steady at 409

The U.S. Baker Hughes Oil Rig Count remained unchanged this week, holding at 409 rigs, according to data updated on 20 February 2026. The figure matches the previous reading of 409, signaling a period of stabilization in U.S. drilling activity.

A flat rig count suggests that producers are maintaining current operational levels rather than expanding or cutting back on drilling programs. This stability may reflect a wait‑and‑see approach by energy companies as they assess oil price trends, demand expectations, and capital spending plans.

With no change from the prior week, the latest data indicates that, for now, U.S. oilfield activity is in a holding pattern, offering few immediate signals of either an acceleration or a slowdown in domestic crude production capacity.