US Oil Rig Count Falls to 459 for Week Ending Oct 16, Gas Rigs Rise to 133, Total Steady at 603

US oil rigs totaled 459 for the week ending October 16, down from the previously reported 462. US natural gas rigs totaled 133 for the week ending October 16, up from the prior reading of 132. Total rigs for the week ending October 16 came in at 603, unchanged from the previous figure. These rig counts serve as a key reference indicator for the energy market, reflecting to some extent the drilling intentions of US oil and gas companies, and are expected to influence supply-demand expectations in the international oil and gas market going forward.