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7/16, 7:02 PM (Source: TeleTrader)
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US oil rig count up by 2 to 380 - Baker Hughes

The number of oil rigs in the United States stood at 380 in the week ending July 9, up by two 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 soared by 180.

Meanwhile, the US gas rig count increased by three to 104 during the same week and rose by 33 compared to last year. The total number of rigs in the country now stands at 484, climbing by five from last week and surging by 231 from the previous year.

In Canada, the total rig count stood at 150, up by 13 from last week and 118 more than 12 months ago. The number of oil rigs rose by six to 94 and the number of gas rigs was 55, increasing by seven on a weekly basis. Year-over-year, Canada gained 88 oil rigs and 29 gas rigs.

Breaking the News / ND