US Oil Rig Count Drops by 9

According to the latest Baker Hughes weekly rig count, the United States saw a decrease of nine oil rigs, bringing the total to 480 for the week ending April 11. This marks a significant annual drop of 26 rigs compared to the previous year.

Gas Rig Count Sees Slight Increase

In contrast to the oil sector, the US gas rig count experienced a minor uptick, rising by one to 97. However, this still represents a decrease of 12 rigs from the same time last year.

Overall Rig Count Trends

The total number of rigs operating in the US now stands at 583, showing a weekly decrease of seven and an annual drop of 34. Meanwhile, Canada's rig count also declined, with a total reduction of 15 rigs to 138, including decreases in both oil and gas sectors.