The number of oil rigs in the United States stood at 520 in the week ending August 18, falling by 5 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday.
The number of US gas rigs declined by 6 during the same week to reach 117 bringing the total number of rigs in the country to 642. Compared to the same period a year earlier, the number of oil rigs was down by 81.
In Canada, the number of rigs decreased by 1 to 189. The number of oil rigs in Canada increased by 3 to 119, while the number of gas rigs fell by 4 to 70 Canada's oil rig count was down by 18 from the same period in 2022.
