4/22/2016, 7:00 PM (Source: TeleTrader)
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Rig count: U.S. loses 8 oil rigs, Canada adds 2 oil rigs

There were 343 oil rigs active in the United States on April 22, compared to 351 a week ago. The number of gas rigs dropped by 1 to 88. In the comparable report from a year ago there were 360 oil rigs more and the number of gas units decreased by 137 in the United States, according to Baker Hughes' Rotary Rig Count.

Canada saw the number of oil rigs increased by 2 to a total of 12 on April 22. Canada had 16 oil rigs a year ago. There were 27 gas rigs in the current report, down 3 from the last week. Canada saw 36 gas rigs closed in one year.

Oil prices have been seesawing on Friday, and slightly falling ahead of the Baker Hughes report. The U.S. light sweet crude West Texas Intermediate for June delivery was up 1.03% to $43.63 per barrel. International benchmark Brent also for June delivery contracted 1.22% higher at $45.08 per barrel at 7:08 p.m. CET.

The Organization of the Petroleum Exporting Countries earlier reported its OPEC daily basket price of 13 crudes at $40.11 a barrel on Thursday, compared with $38.46 on Wednesday.

Breaking the News / ZR