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Rankin is a city in and the county seat of Upton County, Texas, United States. Its population was 780 at the 2020 census. It is named after F.E. Rankin, a local rancher. In 2020, only 3,308 people lived in the entire county, and McCamey was the only larger town. During the early 20th century, the town grew due to the discovery of oil in the nearby Yates Oil Field. Following a second oil boom in the '80s, though, the town had a decline in its economy and population.