12/8/2023, 7:02 PM (Source: TeleTrader)
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US oil rig count down by 2 to 503

The number of oil rigs in the United States stood at 503 in the week ending December 8, dropping by two compared to the previous week, according to the Baker Hughes weekly rig count released on Friday. On an annual basis, the number of oil rigs shrank by 122.

The US gas rig count rose by three to 119 during the same week, while it fell by 34 compared to last year. The total number of rigs in the country currently stands at 626, up by one from last week but plunging by 154 from the previous year.

In Canada, the number of total rigs climbed by two to land 194 weekly and decreased by eight from the same period in 2022. The number of oil rigs in Canada declined by two to 120, and the number of gas rigs grew by four to 74.

Baha Breaking News (BBN) / AC