1/21, 7:01 PM (Source: TeleTrader)
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US oil rig count down by 1 to 491 - Baker Hughes

The number of oil rigs in the United States stood at 491 in the week ending January 21, down by one 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 202.

Meanwhile, the US gas rig count increased by four to 113 during the same week and rose by 25 compared to last year. The total number of rigs in the country now stands at 604, climbing by three from last week and surging by 226 from the previous year.

In Canada, the total rig count stood at 212, up by 21 from last week and by 40 in comparison to 12 months ago. The number of oil rigs rose by 13 to 134 and the number of gas rigs was 78, increasing by eight on a weekly basis. Year-over-year, Canada gained 38 oil rigs and two gas rigs.

Baha Breaking the News (BBN) / MS