4/16, 7:01 PM (Source: TeleTrader)
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US oil rig count up by 7 to 344 - Baker Hughes

The number of oil rigs in the United States stood at 344 in the week ending April 16, up by seven to compared to the previous week, according to the Baker Hughes rig count data released on Friday. On an annual basis, the number of oil rigs dropped by 94.

Meanwhile, the US gas rig count increased by one to 94 during the same week and rose by five compared to last year. The total number of rigs in the country now stands at 439, climbing by seven from last week, but falling by 90 from the previous year.

In Canada, the total rig count stood at 56, two fewer from last week and 26 more than 12 months ago. The number of oil rigs decreased by two to 17 and the number of gas rigs was 39, unchanged on a weekly basis. Year-over-year, Canada gained 10 oil rigs and 16 gas rigs.

Breaking the News / MS