5/19, 7:01 PM (Source:
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US adds 8 oil rigs

The number of oil rigs in the United States rose by  8 to 720 in the week ending May 19 compared to the previous week, according to the Baker Hughes weekly rig count published on Friday. 

The number of US gas rigs rose by eight to 180 in the same period, while the total number of rigs grew by 16 to 901. On an annual basis, the number of US oil rigs was up 497 rigs from last year's count of 404.

Canada’s oil rig count was up by seven to 36 ending May 19 compared to a week ago, while the number of gas rigs fell by two to 49. Annually, the number of oil rigs in Canada rose by 5.

TeleTrader Newsroom / VK