Number of U.S. oil rigs increases by 7 - Breaking The News

Number of U.S. oil rigs increases by 7

5 August

1 min read

EPA / Larry W. Smith

The number of U.S. oil rigs rose by 7 to 381 in the week ending August 5 compared to a week ago, according to the Baker Hughes weekly Rig Count released on Friday.

Number of U.S. gas rigs fell by 5 to 81 in the same period, while the total number of rigs grew by 1 to 464. Annually, U.S. oil rigs were down by 289 compared to a year ago.

The number of Canada’s oil rigs remained unchanged at 60 in the week ending August 5. The number of Canada’s rigs increased by 3 to 122 in the same period, while gas rigs went up by 2 to 60. Canada’s oil rigs declined by 40 compared to a year ago.

Oil prices were almost 1% down before the announcement.

Image: EPA / Larry W. Smith

Commodities Oil Gas Oil and Gas

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