News report 🏭 Commodities 🌍 United States

US Oil Rigs Hold at 463 as Crude Output Hits Record 14.013 Million BPD

U.S. oil rigs remained steady at 463 while crude production hit a record 14.013 million bpd, yet prices climbed as geopolitical tensions in the Middle East overshadowed supply growth.

📅 November 13, 2026 🕐 1 min read

2 assets impacted (Commodities). Net bias: 0 Bullish, 2 Bearish, 0 Neutral. Strongest signal: USOIL ↓ 2/10 (55% confidence).

📊 Affected Assets (2)

USOIL

Bearish 🤖 55%

📅 Short-term 🌍 US · Explicit

US crude output set a third straight weekly record at 14.013 million bpd for the week ending November 6, and oil rigs held at 463 with frac crews up 4 to 195, signaling continued supply growth that weighs on WTI. However, this weekly data is routine and WTI was trading up 2.85% at $89.00 on the day, driven by Middle East geopolitics rather than the rig figures.

Catalysts

▼ Record weekly US crude output of 14.013 million bpd (week ending Nov 6)
▼ Oil rigs steady at 463 with Permian adding 2 rigs to 275

Risk Factors

▲ Brent/WTI rising on Iran war risk despite record supply
▲ Geopolitical headlines in the article (Iran mine strike, Hormuz flows) can override bearish supply data

UKOIL

Bearish 🤖 50%

📅 Short-term 🌍 GLOBAL · Explicit

Record US production growth and a steady oil rig count at 463 add barrels to a well-supplied global market, a mild bearish signal for Brent. Still, Brent was trading up 3.59% at $96.09 ahead of the data and has been driven by Iran-related supply fears, which can offset the US supply narrative.

Catalysts

▼ US output at a record 14.013 million bpd for week ending Nov 6
▼ Permian rig count rising 2 to 275

Risk Factors

▲ Iran war risks and Strait of Hormuz incidents dominating price action
▲ Brent already up 3.59% on the day of the release

🧭 Full analysis of these assets

🎯 Key Takeaways

U.S. crude oil production hit a record 14.013 million bpd for the week ending November 6.
Active U.S. oil rigs remained unchanged at 463, while the Permian Basin added 2 rigs to reach 275.
Primary Vision’s frac spread count increased by 4 crews to 195.
Total active U.S. drilling rigs fell by 3 to 601, though the figure remains 52 higher than last year.

📝 Executive Summary

U.S. crude oil production reached a third consecutive weekly record of 14.013 million barrels per day for the week ending November 6. Despite the surge in supply, oil prices rallied on Friday, with Brent trading at $96.09 and WTI at $89.00, as market participants prioritized Middle East geopolitical risks over domestic production data.

❓ FAQ

USOIL · Why isn't the record US output crashing oil prices?

The rig data shows growing US supply, which is bearish, but crude was trading higher on the same day because of Middle East supply risks taking priority in the market.

UKOIL · Does the US rig count matter for Brent prices?

Rising US production adds to global supply, which pressures Brent over time, but in the current environment the article shows Brent moving on Middle East war risks instead.

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