November 18, 2025–Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)–The historical association between upstream activity and production levels has weakened, according to the U.S. Department of Energy (DOE), with year-over-year production gains on the decline.
Upstream services firm Baker Hughes listed 737 active rigs working across North America during the seven-day period ending November 14. That’s about 6% below year-ago levels, though production trends, at least in the U.S., are holding up.
