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9/29/2023, 7:03 PM (Source: TeleTrader)
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Baker Hughes: US oil rig count down by 5 to 502

The number of oil rigs in the United States dropped by five, on a weekly basis, to 502 in the week ending September 29, the Baker Hughes rig count data released on Friday revealed. Year over year, oil rigs fell by 102.

Meanwhile, the US gas rig count decreased by two to 116 compared to the week before. The total number of rigs in the country currently stands at 623, down by seven from last week and slipping by 142 from the previous year.

In Canada, the total rig count stood at 191, up by one from last week and decreasing by 22 compared to 12 months ago. The number of oil rigs remained unchanged and stood at 115, while the number of gas rigs rose by one to 76. On an annual level, Canada lost 29 oil rigs, while the number of gas rigs was up by seven.

Baha Breaking News (BBN) / JJ