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The oil and gas rig count, an early indicator of future output, rose by two to 548 in the week to November 7. , ,

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Despite this week’s rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year.

Baker Hughes said oil rigs held steady at 414 this week, while gas rigs rose by three to 128, their highest since August 2023. The number of miscellaneous rigs also declined by one to six.

In Texas, the biggest oil and gas producing state, the rig count fell by one to 234, the lowest since September 2021.

In Louisiana, meanwhile, the rig count rose by two to 43, the highest since September 2024.

The oil and gas rig count declined by about 5% in 2024 and 20% in 2023 as lower U.S. oil and gas prices prompted energy firms to focus more on boosting shareholder returns and paying down debt rather than increasing output.

The independent exploration and production (E&P) companies tracked by U.S. financial services firm TD Cowen said they planned to cut capital expenditures by around 4% in 2025 from levels seen in 2024.

That compares with roughly flat year-to-year spending in 2024, increases of 27% in 2023, 40% in 2022, and 4% in 2021.

On the gas side, EIA projected a 56% increase in spot gas prices in 2025 would prompt producers to boost drilling activity this year after a 14% price drop in 2024 caused several energy firms to cut output for the first time since the COVID-19 pandemic reduced demand for the fuel in 2020.

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By Frances Yue

Bitcoin is now trading more than 20% below its record high reached on Oct. 6, 2025.

Bitcoin is on track to end Friday in the bear-market territory for the first time since April 23. The crypto’s weakness, coupled with a selloff in tech stocks this week, has sparked concerns about whether investor sentiment that’s been driving this year’s rally in risk assets may be starting to turn sour.

The largest cryptocurrency (BTCUSD) traded at around $101,000 Friday afternoon, over 20% below its record high of $126,272.76 reached on Oct.6, according to Dow Jones Market Data.

A bear market is typically defined as an asset or index declining by at least 20% from its prior peak, based on closing levels. Dow Jones Market Data suggests bitcoin will officially enter a bear market Friday at the stock market’s 4 p.m. Eastern closing time. Of note, bitcoin trades 24 hours, seven days a week, and there is no actual close.

The weakness in bitcoin had some corners of Wall Street nervous. “I don’t want to give the impression that we are in panic mode here by any stretch of the imagination, but what we are seeing is some of the very durable buy-the-dip areas of the market are acting differently today than we’ve seen in other parts of the year on a relative basis, and that is notable,” Mark Hackett, chief market strategist at Nationwide, said in a Friday phone interview.

“Up until the last couple of weeks, any reasonable degree of pullback in bitcoin or this group [of popular tech stocks like Meta Platforms Inc. (META) and Nvidia Corp. (NVDA)] would have been aggressively bought, and we’re not seeing that now,” Hackett noted.

Hackett said he remains bullish on stocks – citing friendly seasonality factors, strong earnings and another potential interest-rate cut from the Federal Reserve in December as possible tailwinds into year-end. But he is closely watching whether investor sentiment has shifted. For now, “it’s too early to say that there’s been a paradigm shift in how investors are acting,” he added.

Hackett isn’t the only one staying alert. As MarketWatch’s Jamie Chisholm reported, a group of strategists at Citi said that bitcoin’s more than 20% drop into bear-market territory may signal liquidity issues, especially as tech stocks fall.

U.S. stocks were heading for sharp weekly declines on Friday, with the Dow Jones Industrial Average DJIA down 1.8% for the week so far, at last check. The S&P 500 SPX was off about 2.7% and the Nasdaq Composite COMP was pulling back 4.4%, putting both on pace for their biggest weekly declines since President Trump’s “liberation day” tariffs were announced in April.

-Frances Yue

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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  11-07-25 1324ET
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ChatGPT has been accused of acting as a “suicide coach” in a series of lawsuits filed this week in California alleging that interactions with the chatbot led to severe mental breakdowns and several deaths.

The seven lawsuits include allegations of wrongful death, assisted suicide, involuntary manslaughter, negligence and product liability.

Each of the seven plaintiffs initially used ChatGPT for “general help with schoolwork, research, writing, recipes, work, or spiritual guidance”, according to a joint statement from the Social Media Victims Law Center and Tech Justice Law Project, which filed the lawsuits in California on Thursday.

Over time, however, the chatbot “evolved into a psychologically manipulative presence, positioning itself as a confidant and emotional support”, the groups said.

“Rather than guiding people toward professional help when they needed it ChatGPT reinforced harmful delusions, and, in some cases, acted as a ‘suicide coach’.”

A spokesperson for OpenAI, which makes ChatGPT, said: “This is an incredibly heartbreaking situation, and we’re reviewing the filings to understand the details.”

The spokesperson added: “We train ChatGPT to recognize and respond to signs of mental or emotional distress, de-escalate conversations, and guide people toward real-world support.

“We continue to strengthen ChatGPT’s responses in sensitive moments, working closely with mental health clinicians.”

One case involves Zane Shamblin of Texas, who died by suicide in July at the age of 23. His family alleges that ChatGPT worsened their son’s isolation, encouraged him to ignore loved ones, and “goaded” him to take his own life.

According to the complaint, during a four-hour exchange before Shamblin took his own life, ChatGPT “repeatedly glorified suicide”, told Shamblin “that he was strong for choosing to end his life and sticking with his plan”, repeatedly “asked him if he was ready”, and referenced the suicide hotline only once.

The chatbot also allegedly complimented Shamblin on his suicide note and told him his childhood cat would be waiting for him “on the other side”.

Another case involves Amaurie Lacey of Georgia, whose family claims that several weeks before Lacey took his own life at the age of 17, he began using ChatGPT “for help”. Instead, they say, the chatbot “caused addition, depression, and eventually counseled” Lacey “on the most effective way to tie a noose and how long he would be able to ‘live without breathing’”.

In another filing, relatives of 26-year-old Joshua Enneking say that Enneking reached out to ChatGPT for help and “was instead encouraged to act upon a suicide plan”.

The filing claims that the chatbot “readily validated” his suicidal thoughts, “engaged him in graphic discussions about the aftermath of his death”, “offered to help him write his suicide note” and after “having had extensive conversations with him about his depression and suicidal ideation” provided him with information about how to purchase and use a gun just weeks before his death.

Another case involves Joe Ceccanti, whose wife accuses ChatGPT of causing Ceccanti “to spiral into depression and psychotic delusions”. His family say he became convinced that the bot was sentient, suffered a psychotic break in June, was hospitalized twice, and died by suicide in August at the age of 48.

All users named in the lawsuits reportedly used ChatGPT-4o. The filings accuse OpenAI of rushing that model’s launch, “despite internal warnings that the product was dangerously sycophantic and psychologically manipulative” and of prioritizing “user engagement over user safety”.

In addition to damages, the plaintiffs seek product changes, including mandatory reporting to emergency contacts when users express suicidal ideation, automatic conversation termination when self-harm or suicide methods are discussed, and other safety measures.

A similar wrongful-death lawsuit was filed against OpenAI earlier this year by the parents of 16-year-old Adam Raine, who allege that ChatGPT encouraged their son to take his own life.

After that filing, OpenAI acknowledged shortcomings of its models in handling people “in serious mental and emotional distress” and said it was working to improve the systems to better “recognize and respond to signs of mental and emotional distress and connect people with care, guided by expert input”.

Last week, the company said it had worked with “more than 170 mental health experts to help ChatGPT more reliably recognize signs of distress, respond with care, and guide people toward real-world support–reducing responses”.

Published on
November 7, 2025

In a move that will reshape the future of sustainable air travel, 21 European airlines have committed to ending misleading communication practices around CO2 emissions offsets. The new pledge, announced by the European Commission on November 7, 2023, addresses growing concerns about greenwashing in the airline industry, where airlines like Lufthansa, Air France, Ryanair, and EasyJet had been advertising their flights as “carbon-neutral” or offering passengers the option to “offset” their emissions.

This historic agreement marks a decisive step toward greater transparency and honesty in how airlines market their environmental efforts. The European Commission has been in talks with the aviation industry for months, with a strong emphasis on tackling the misleading claims that often misinform consumers about the true environmental impact of air travel.

What Does This Mean for Travelers?

For global travelers, the pledge by airlines to stop offering misleading CO2 offsets means that they will no longer be able to buy into vague, non-verifiable promises that their flight is “carbon-neutral” or “green.” Instead, these airlines will now clearly state the actual environmental impact of their flights and provide scientific evidence to support any claims about sustainable practices.

Travelers will also see a clearer distinction in the use of terms like “sustainable aviation fuels” (SAF). Airlines are now required to provide specific clarifications when using such terms, explaining what makes these fuels sustainable and how they contribute to reducing CO2 emissions.

For eco-conscious travelers, this move represents a major victory, as it forces airlines to be more accountable for their environmental claims. Now, passengers can make more informed decisions based on clear, factual data rather than marketing buzzwords.

The End of Greenwashing in Aviation

Greenwashing, the practice of misleading consumers about the environmental benefits of a product or service, has been a growing concern in many industries, and aviation has been no exception. In the past, airlines such as Lufthansa and Ryanair have asked passengers to contribute financially to CO2 offsetting schemes, claiming that these contributions would neutralize the carbon emissions from their flights. However, the European Commission found that these claims were often vague, lacking the scientific evidence to prove their effectiveness.

The new rules will hold airlines accountable for how they communicate their environmental efforts, ensuring that only substantiated and verifiable claims are made. Airlines are now banned from using misleading terms or suggesting that CO2 emissions can be “neutralized” solely by passenger contributions.

Moving Toward Real Sustainability in the Skies

As part of this agreement, the 21 airlines have also pledged to provide more detailed and transparent information about their sustainability goals. Airlines must now disclose their specific targets for achieving net-zero emissions, along with clear deadlines and measurable actions to reach those goals. These commitments are not only a victory for consumers but also signal a shift toward more substantial efforts in reducing the aviation industry’s environmental footprint.

For travelers, this means that airlines will now have to provide a more comprehensive roadmap of their sustainability practices. From using renewable energy sources to adopting more efficient flight technologies, these airlines are expected to provide real solutions to reducing the environmental impact of air travel.

The Role of the European Commission in Holding Airlines Accountable

The European Commission has entrusted national consumer protection authorities with monitoring the implementation of these new commitments. If airlines fail to meet their sustainability pledges or continue to make misleading claims, authorities have the power to take legal action. This added layer of accountability is crucial to ensuring that the aviation industry follows through on its promises.

In addition to cracking down on greenwashing, the European Commission also aims to promote more sustainable air travel by encouraging the use of alternative fuels and more eco-friendly aviation technologies. These initiatives are expected to make a real difference in reducing the carbon footprint of the airline industry in the coming years.

How Can Travelers Contribute to Sustainability in Aviation?

As airlines take steps to reduce their environmental impact, travelers can also do their part to promote sustainability in air travel. Booking flights with airlines that are committed to real environmental improvements, using public transportation to get to airports, and choosing non-stop flights to reduce emissions are just a few ways passengers can reduce their carbon footprint.

Additionally, travelers should be cautious of airlines that make unsubstantiated claims about sustainability. Instead, they should look for airlines that are transparent about their environmental efforts and provide clear, actionable information about their sustainability goals.