7/1, 7:01 PM (Source: TeleTrader)
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US oil rig count up by 1 to 595 - Baker Hughes

The number of oil rigs in the United States stood at 595 in the week ending July 1, up 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 219.

Meanwhile, the US gas rig count fell by four to 153 during the same week and rose by 54 compared to last year. The total number of rigs in the country now stands at 750, declining by there from last week and surging by 275 compared to the previous year.

In Canada, the total rig count stood at 166, up by 12 from last week and by 32 in comparison to 12 months ago. The number of oil rigs increased by 5 to 109 and the number of gas rigs climbed by 7 to reach 57. Year-over-year, Canada gained 22 oil rigs and 10 gas rigs.

Baha Breaking News (BBN) / SP