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11/8, 7:05 PM (Source: TeleTrader)
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US oil rig count down by 7 to 684 - Baker Hughes

The number of oil rigs in the United States dropped by seven in the week ending November 8, reaching 684, Baker Hughes said in its weekly report on Friday. The total rig count including gas, oil and miscellaneous rigs stood at 817, decreasing by five.

The US gas rigs remained unchanged with 130 active rigs while the miscellaneous rigs increased by two to stand at three in total. Meanwhile, the United States offshore rig count went up by one to 23, jumping by two year-on-year. The US oil rigs are down 202 compared to last year and the gas rigs slipped by 65 on an annual basis leading to total rigs slump by 264.

The oil rig count in Canada went up by four to reach 97 while the number of gas rigs stood at 43, falling by six in the week ending November 8. On an annual basis, Canada lost 20 oil and 36 gas rigs.

Breaking the News / GA