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• US Rig Count Reuters
  As of November 7, 2025, the total U.S. oil and gas rig count...
  As of November 7, 2025, the total U.S. oil and gas rig count rose by two to 548, marking the third increase in four weeks, according to Baker Hughes Despite this rise, the total rig count remains 37 rigs, or 6%, below the level seen at the same time last year.  Gas rigs increased by three to 128, their highest since August 2023, while oil rigs held steady at 414. Oklahoma remained constant with 42 rigs running.
  
  🔘 The U.S. oil and gas rig count reached 548 in the week ending November 7, 2025, up from 546 the previous week
  🔘 Oil rigs remained unchanged at 414, while gas rigs rose to 128, the highest since August 2023
  🔘 The total rig count is still down 37 rigs, or 6%, compared to November 2024
  🔘 In Texas, the largest oil and gas producing state, the rig count fell by one to 234, the lowest since September 2021
  🔘 In Louisiana, the rig count rose by two to 43, the highest since September 2024
  🔘 The overall decline in rig counts over 2023 and 2024 was driven by lower oil and gas prices, prompting firms to prioritize shareholder returns and debt reduction over production increases
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• Shutdown has an uneven impact on agencies
  The current government shutdown has set a new record, stretching into...
  The current government shutdown has set a new record, stretching into its 36th day and surpassing the previous longest closure in US history. There is no end in sight and the impacts are being felt unevenly across agencies, with some programs remaining operational due to leftover funds. Energy and mineral development remain priorities for the Interior Department and Bureau of Land Management, despite dealing with staffing cuts and funding constraints.
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• ☕️What Else is Brewing Saturday Morning
  Flight cancellations could rise to 20% if shutdown continues. Airlines...
  Flight cancellations could rise to 20% if shutdown continues. Airlines canceled at least 1,000 US flights yesterday, after the FAA ordered 10% flight reductions at 40 airports across the country over the next week as air traffic controllers missed a paycheck due to the government shutdown. Yesterday’s cancellations amounted to a 4% reduction, but Transportation Secretary Sean Duffy said it might get even worse, with flights reduced by as much as 20% if the shutdown drags on. “If this shutdown doesn’t end relatively soon, the consequence is that more controllers don’t come to work,” Duffy told Fox News.
  
  The Supreme Court temporarily halted a judge’s order that required the Trump administration to fully fund the SNAP program for the month, pausing it until an appeals court decides whether to put its own block on the order while the administration appeals it.
  
  Cornell University agreed to pay $60 million to end the Trump administration’s civil rights investigations into the school and to get more than $250 million worth of federal funding restored.
  
  The Justice Department said it was investigating price-fixing allegations after President Trump accused meatpacking companies of colluding to drive up beef prices.
  
  No jobs report from the BLS was published yesterday because of the government shutdown. That means the Fed likely won’t have complete information when it decides whether to cut rates next month.
  
  Former NY baseball player Darryl Strawberry was pardoned by President Trump on tax evasion and drug charges.
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• DAILY OIL PRICE: November 7, 2025
  Crude Oil: 59.75   (+0.32)....
  
  
  • Crude Oil: 59.75   (+0.32).
  
  
  • Nymex MTD AVG: 60.2056.
  
  
  • Natural Gas: 4.315   (-0.042).
  
  
  • Gasoline: 1.9403   (-0.0253).
  
  
  • Spreads: December/January (+0.13)     January/February (+0.15).
  
  
  • Plains WTI Posting: 56.23   (+0.32)
  
  

  
  Source: Odessa American
  
  
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• Dow ekes out gain as stocks end mostly higher and tech posts worst week since April
  The U.S. stock market closed mostly higher Friday, but...

  The U.S. stock market closed mostly higher Friday, but all three benchmarks saw weekly losses amid worries over stretched valuations as the technology sector struggled.

  
  

  The Dow Jones Industrial Average rose 0.2% while the S&P 500 increased 0.1% and the Nasdaq Composite retreated 0.2%, according to preliminary data from FactSet.

  
  

  U.S. stocks pared losses heading toward the closing bell on Friday, with the S&P 500 index eking out a gain despite Big Tech losses. The index’s tech sector fell for a fourth straight day on Friday to book its biggest weekly drop since April, according to FactSet data.

  
  

  For the week, the Dow fell 1.2%, the S&P 500 declined 1.6% and tech-heavy Nasdaq dropped 3%, according to the preliminary FactSet data.

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