By John P. Tretbar
News from the Oil Patch
Jet fuel prices are taking off due to problems in the Middle East, and some US refineries are taking full advantage. Europe and Asia previously imported their jet fuel supplies from the Persian Gulf almost exclusively.
The Energy Information Administration reports jet fuel output here has reached record highs, reflecting both above-average refinery runs, as well as strategic shifts to increase jet-fuel yields.
Four-week production averages went from 1.7 million barrels a day in February, to over two million barrels a day for the first time in early May. EIA says despite increased export demand, domestic jet fuel inventories remain above average.
Baker Hughes reports 563 active drilling rigs this week, up two oil rigs. The oil rig breakout is down eleven rigs from a year ago. Texas is up four rigs, New Mexico is down two and Oklahoma is down one.
The Kansas Rig Count from Independent Oil and Gas Service is unchanged from a week ago and a month ago, with nine active rigs in eastern Kansas and eleven west of Wichita. Operators were rigging up, preparing to spud or drilling Friday on leases in Ellis, Gove, Haskell and Rooks counties. out of eleven active rigs west of Wichita.
The number of wells drilled in Kansas from spud to full depth so far this year still trails last year, but we're catching up. Independent Oil and Gas Service reports 302 wells so far in 2026, compared to 379 a year ago. That year-over-year deficit has dropped from 39 percent in early April, to 31 percent in early May, to just under 20 percent this week. Among the 19 wells completed this week are eight in Western Kansas including new service or disposal wells in Russell, Stafford, Finney, Gove and Graham counties.
Kansas regulators okay 17 new drilling locations this week, including new permits in Ellis, Finney, Gove, and Rooks counties.
US crude production drops slightly but remains above 13.7 million barrels a day for a fourth consecutive week. The four week average rises two percent to surpass 13.7 million daily barrels for the first time ever.
Commercial crude oil inventories fall for a sixth straight week. The government reports stockpiles of just under 434 million barrels, down eight million barrels from a week ago, and down 26 million barrels in the last month.
The government reports another million barrel contribution of strategic crude to the marketplace. The US Strategic Petroleum Reserves drop to a fraction over 357 million barrels, down more than 58 million barrels since we joined the international agreement in early April.
The US remains a net importer of crude oil this week, but only by about half a million barrels a day. US crude exports reach their second-highest level ever, at 5.8 million barrels a day. Average exports over the last four weeks nearly reached an all-time high at 5.35 million barrels a day.
US crude imports are up 1.2 million barrels a day from last week to 6.4 million, the highest tally since early April. The four week average is down 4.5 percent from the same four weeks last year. US crude imports from Canada drop a quarter-million to 3.6 barrels a day. Deliveries from Mexico, Saudi Arabia and Venezuela add up to more than a million barrels a day, while Brazil and Colombia add another half million.
National and statewide gasoline prices continue to drop, but slower than last week. At $4.16 per gallon, US pump prices aver 16 cents cheaper than last week and 38 cents cheaper than a month ago, but more than a dollar higher than a year ago. The statewide average for regular gasoline is $3.80 per gallon. Diesel averages five thirty-one $5.31 per gallon nationwide, and four eighty-one $4.81 in Kansas.
It might surprise you to learn which state offers the cheapest gasoline pump prices. Indiana has a statewide average of $3.43 per gallon on Monday. Motorists are driving from Chicago to Indiana to fill up according to multiple media accounts. Last month the state suspended 59 cents per gallon in excise and use taxes.