3/27, 6:01 PM (Source: TeleTrader)
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Baker Hughes: US oil rig count down by 40 to 624

The number of oil rigs in the United States decreased by 20 to 772 in the week ending March 27 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday.

Meanwhile, the number of US gas rigs fell by 4 to 102 during the same week to bring the total number of rigs in the country to 728. Compared to the same period a year earlier, the number of oil rigs decreased by 192.

In Canada, the number of oil rigs dropped by 34 to 18 and the number of gas rigs declined by 10 to 36, bringing the total rig count to 54. Year-on-year, the number of oil rigs in Canada was down by 17.

Breaking the News / JC