The number of drilling rigs at work in Texas rose to a count of 460, significantly higher than last year but only up on last month, according to oilfield services firm Baker Hughes. Nationally, there were 941 rigs at work, up from 908 at this time last month. Overall, US crude production remains steady around 9.35 million barrels/day.
The price of oil slipped throughout June amid a global supply glut and lower-than-expected demand. An OPEC-Russia agreement to lower production and increases prices seems to have floundered among political disagreements and continued strong production from non-OPEC regions, particularly the United States.