American oil and gas drilling companies and rig owners have raised their demand forecasts due to a sharp decline in global crude oil supplies as a result of the US-Iranian war.

American drilling contractors and pipe manufacturers oil country (OCTG) now expect higher oil prices and increased oil and gas drilling volumes to lead to increased demand in the United States in the second half of 2026, which is significantly different from the reduction in the number of drilling rigs and lower oil prices at the beginning of the year.

Pipe companies are optimistic as crude oil prices, supported by the war in the Middle East, boost drilling activity in the United States. West Texas Intermediate crude (WTI) on fob terms in Houston was valued at $84.82 per barrel as of August 11, compared with $68.19 per barrel at the end of February and before the outbreak of the war. Drilling Rig Contractors

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Raise the ratings of contractors for drilling rigs traded on the stock exchange

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The biggest changes have occurred as they now expect an increase in the number of drilling rigs in the second quarter. Changing drilling rig contractor forecasts

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Helmerich & Payne (H&P) (Helmerich & Payne) (H&P) reflects the changing situation in the industry caused by the war. At the end of 2025, H&P lowered its estimates of the number of drilling rigs for the first quarter due to lower oil prices and drilling activity.

"At the beginning[of 2026], the situation seemed relatively bearish, but I think it's very different now," said Todd Scruggs, chief financial officer at H&P. "We believe that this[third quarter]is a pretty good indicator of what we will achieve in[2027], we actually think that our performance will improve from this point of view."

But a more optimistic outlook still depends on whether oil prices remain high and the conflict does not escalate into turmoil that will undermine our economy. Economic growth or budget cuts.

As of the end of the first quarter, H&P and other drilling rig contractors Nabors and Patterson-UTI operated an average of 294-301 active drilling rigs in the United States in the second quarter. Rig operators exceeded this forecast and ended the second quarter with an estimated 316 active rigs in the United States, which companies expect to increase to approximately 324 active rigs by the end of the third quarter.

U.

S. private and independent oil and gas exploration and production (E&P) companies have increased demand for drilling rigs as they have benefited from rising crude oil prices, which are expected to continue in the second half of the year. According to the oilfield service company

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