Baker Hughes: Oil rig count in US up by 2 to 344
The number of oil rigs in the United States increased by 2 compared to the week before, amounting to a total of 344 in the week ending May 7, the data published by Baker Hughes revealed on Friday. On an annual basis, the number of oil rigs increased by 52.
The number of gas rigs in the US was 103 in the week ending May 7, up by seven from the prior week’s figure and by 23 more compared to last year. The total number of rigs in the country now stands at 448, which is 8 rigs more than last week’s level and 74 more compared to the previous year’s count.
In Canada, the total rig count stood at 55, up by 4 compared to last week and 29 more than 12 months ago. The number of oil rigs was 22, up by two on a weekly basis, while the gas rig count climbed by two from the previous week to land at 33. Year-over-year, Canada gained 15 oil rigs and 14 gas rigs.
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