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The total number of drilling rigs in the United States for the week ending August 28 was 588, unchanged from the previous week.

2026-08-29

The total number of drilling rigs in the United States for the week ending August 28 was 588, unchanged from the previous week.

Other News
2026-08-28

EUR/USD slipped below 1.16, down 0.44% intraday. USD/CHF rose over 0.50% to 0.8082. NZD/USD fell 0.50% to 0.5919.

EUR/USD slipped below 1.16, down 0.44% intraday. USD/CHF rose over 0.50% to 0.8082. NZD/USD fell 0.50% to 0.5919.
2026-08-28

Venezuela is reportedly weighing exit from OPEC and has discussed the option with US officials, though no final decision has been made. The country is not currently subject to OPEC production limits after a sharp output decline, so a Withdrawal is un

Venezuela is reportedly weighing exit from OPEC and has discussed the option with US officials, though no final decision has been made. The country is not currently subject to OPEC production limits after a sharp output decline, so a Withdrawal is unlikely to have a large direct impact on global crude supply. Markets should note, however, the potential for the move to raise doubts about Saudi-led OPEC’s cohesion and its price-setting ability. Some US officials envisage a US–Venezuela energy partnership to build an “oil power” that would weakening OPEC; exempting Venezuela from future quotas could allow it to increase output over time and put downward pressure on prices. The US would also be positioned to advance plans on Venezuelan oil and to facilitate greater roles for international oil companies in rebuilding Venezuela’s industry, a development that could add to institutional forecasts of a global oil surplus over the coming years.
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