The number of oil rigs in the United States increased by five, on a weekly basis, to 482 in the week ending July 26, the Baker Hughes rig count data released on Friday showed. Year over year, oil rigs slumped by 47.
The US gas rig count was down by two to 101 during the same week, while it declined by 27 compared to last year. The total number of rigs in the country currently stands at 589, growing by three from last week but plunging by 75 from the previous year.
In Canada, the total rig count stood at 211, increasing by 14 from last week and by 18 compared to 12 months ago. The number of oil rigs rose by 14 to 144 and the number of gas rigs was up by one, with the number at 67. On an annual level, Canada added 23 oil rigs, while the number of gas rigs was down by five.
