The number of oil rigs in the United States stood at 485 in the week ending August 9, increasing by three 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 dropped by 40.
The US gas rig count fell by one to 97 during the same week, while it fell by 26 compared to last year. The total number of rigs in the country currently stands at 588, up by two from last week and tumbling by 66 from the previous year.
In Canada, the number of rigs decreased by two to land at 217 on a weekly basis. The number of oil rigs in Canada fell by three to 147, and the number of gas rigs remained unchanged at 69. Canada’s oil rig count was up by 31 from the same period in 2023.
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