3/17, 6:04 PM (Source: TeleTrader)
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US oil rig count down by 1 to 589

The number of oil rigs in the United States declined by 1 to land at 589 in the week ending March 17 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday.

On the other hand, the number of US gas rigs rose by 9 to reach 162 during the same week, bringing the total number of rigs in the country to 754. Compared to the same period a year earlier, the number of oil rigs expanded by 91.

In Canada, the number of rigs declined by 16 to land at 207, with the number of oil rigs dropping by 17 to 122 and the number of gas rigs expanding by 1 to 85. Canada's oil rig count was up by 31 compared to the same period last year.

Baha Breaking News (BBN) / ND