Baker Hughes Reports a Modest Rise in US Oil Rigs

In the latest weekly report by Baker Hughes, the number of oil rigs in the United States has seen a minor increase, standing at 483 as of December 20. This represents a rise of one rig compared to the previous week, although the count is still down by 15 on an annual basis.

Gas Rigs Decline, Total Rigs Stable

Simultaneously, the number of gas rigs in the US decreased by one to 102. The total rig count in the country remained unchanged at 589, marking a year-over-year decline of 31 rigs.

Canadian Rig Count Fluctuates

In Canada, the total rig count dropped by 25 to 166 but showed an annual increase of 20. The oil rig count fell by ten to 110, while gas rigs decreased by 15 to 56. Despite these weekly drops, the number of oil rigs in Canada rose by 29 annually, while gas rigs saw a nine-rig decrease.