7/30, 7:01 PM (Source: TeleTrader)
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Baker Hughes: US oil rig count down by 2 to 385

The number of oil rigs in the United States in the week ending July 30 fell by 2 to 359 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday.

Meanwhile, the number of US gas rigs decreased by 1 to 103 during the same week to bring the overall number of rigs operating in the country to 488. Compared to the same period a year earlier, the number of oil rigs is up by 237.

In Canada, the number of rigs increased by 4 to 153. Oil rigs rose were unchanged at 93, but were up by 82 compared to the same time last year.

Breaking the News / JC