Oil driller Baker Hughes will release its latest count of US oil and gas rigs just after 1 p.m. ET.
Last week, the oil rig count fell again. It had climbed during the prior three weeks — the longest streak since last August — as oil near $50 put some rigs back in action.
The oil tally fell by 7 to 330, while the gas rig count rose by 4 to 90, taking the total down 3 to 421.
In a note, Goldman’s Damien Courvalin said the decline was mainly driven by non-major shale plays, which offset the increase or steady level of the oil rig count at the Bakken and Permian, among other larger plays.
West Texas Intermediate crude futures in New York are little changed ahead of the data, down 0.27% to $48.22 per barrel.