Weekly Oil Rig Count Rise in the US

According to the latest Baker Hughes weekly rig count, the United States has witnessed an increase in its oil rig count by seven, bringing the total to 479 for the week ending January 31. This marks a significant shift from the previous year, where a decline of 20 rigs was observed.

Gas Rig Count and Total Rigs Overview

Contrastingly, the gas rig count in the US experienced a slight decrease, dropping by one to 98. This is a reduction of 20 rigs compared to the same period in 2024. Overall, the total number of rigs in the US stood at 582, showing an increase of six from the previous week but a decrease of 37 from the previous year.

Canadian Rig Count on the Rise

In parallel, Canada's rig count has also seen an upward trend, with the total number of rigs increasing by 13 to reach 258. The oil rig count in Canada advanced by 12 to 186, while the gas rig count increased by one, totaling 72 for the week.