The number of oil rigs in the United States rose by seven to stand at 479 in the week ending January 31, according to the Baker Hughes weekly rig count released on Friday. The rig count fell by 20 on an annual basis.
The country's gas rig count declined by one to 98 in the reported week, slipping by 20 from the same period in 2024. The total number of rigs in the US stood at 582, climbing by six from the previous week and dropping by 37 from the same period in the previous year.
In Canada, the total number of rigs increased by 13 on a weekly basis to reach 258. The number of oil rigs in the country advanced by 12 to stand at 186, while the number of gas rigs in Canada was up by one from the week prior to reach 72.
