7/9, 7:01 PM (Source: TeleTrader)
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US oil rig count up by 2 to 378 - Baker Hughes

The number of oil rigs in the United States stood at 378 in the week ending July 9, up by two 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 197.

Meanwhile, the US gas rig count increased by two to 101 during the same week and rose by 26 compared to last year. The total number of rigs in the country now stands at 479, climbing by four from last week and surging by 221 from the previous year.

In Canada, the total rig count stood at 137, up by one from last week and 111 more than 12 months ago. The number of oil rigs rose by one to 88 and the number of gas rigs was 48, increasing by one on a weekly basis. Year-over-year, Canada gained 82 oil rigs and 28 gas rigs.

Breaking the News / MS