3/24, 6:03 PM (Source: TeleTrader)
more TeleTrader news

US oil rig count up by four to 593

The number of oil rigs in the United States stood at 593 in the week ending March 24, up by four 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 62.

Meanwhile, the US gas rig count remained unchanged at 162 during the same week but rose by 25 compared to last year. The total number of rigs in the country now stands at 758, climbing up by four from last week and surging by 88 from the previous year.

In Canada, the total rig count stood at 165, down by 42 from last week but up by 25 in comparison to 12 months ago. The number of oil rigs fell by 36 to 86 and the number of gas rigs was 79, six fewer on a weekly basis. Year over year, Canada gained 10 oil rigs and 15 gas rigs.

Baha Breaking News (BBN) / MS