U.S. increases oil rigs by 10 - Breaking The News

U.S. increases oil rigs by 10

19 August

1 min read

EPA / Larry W. Smith

The number of U.S. oil rigs rose by 10 to 406 in the week ending August 19 compared to a week ago, according to the Baker Hughes weekly Rig Count released on Friday.

Number of U.S. gas rigs remained unchanged at 83 in the same period, while the total number of rigs grew by 10 to 491. Annually, U.S. oil rigs were down by 268 compared to a year ago.

The number of Canada’s oil rigs remained unchanged at 65 in the week ending August 19. The number of Canada’s rigs decreased by 5 to 121 in the same period, while gas rigs decreased by 4 to 56. Canada’s oil rigs declined by 32 compared to a year ago.

Oil prices were in the red before the announcement.

Image: EPA / Larry W. Smith

Commodities Oil Oil and Gas

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