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10/6/2023, 7:04 PM (Source: TeleTrader)
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Baker Hughes: US oil rig count down by 5 to 497

The number of oil rigs in the United States declined by five week-over-week to land at 497 in the week ending October 6, the Baker Hughes rig count data released on Friday revealed. On an annual basis, oil rigs fell by 105.

Meanwhile, the US gas rig count went up by two to 118 compared to the week before. The total number of rigs in the country currently stands at 619, down by four from last week and plunging by 143 from the previous year.

In Canada, the total rig count stood at 180, down by eleven on a weekly basis and dropping by 35 compared to 12 months ago. The number of oil slipped by seven and stood at 108, while the number of gas rigs dipped by four to 72. On an annual level, Canada lost 40 oil rigs, while the number of gas rigs was up by five.

Baha Breaking News (BBN) / AB