Oil driller Baker Hughes will publish its latest count of US oil and gas rigs at the top of the hour.
Last week, the oil rig count fell by 10 to 362, the lowest level since November 2009.
The gas rig dropped by four, taking the combined count down 14 to 450.
Ahead of the release of the data, US crude was up 6% and rose to as high as $39.84 per barrel. A surprise drop in inventory levels and hopes of a production-freeze agreement among major producers are helping to lift hopes.
This is the most recent chart: