The number of oil rigs in the United States stood at 499 in the week ending February 2, unchanged from the previous week, according to the Baker Hughes weekly rig count data released on Friday. On an annual basis, the number of oil rigs dropped by 100.
The US gas rig count decreased by two and stood at 117 during the same week, while it fell by 41 compared to last year. The total number of rigs in the country currently stands at 619, down by two from last week and plunging by 140 from the previous year.
In Canada, the number of total rigs was up by two to 232 compared to the week before, but it decreased by 17 from the same period in 2023. The number of oil rigs in Canada decreased by 3 to 141, and the number of gas rigs rose by five to 91 compared to the week before.