US Oil Rig Count Sees Modest Increase

The United States has witnessed a slight uptick in its oil rig count, reaching 483 in the week ending April 25. This marks an increase of two rigs from the previous week, as reported by Baker Hughes. However, the annual comparison shows a significant drop of 23 rigs.

Gas Rig Count and Total Rig Numbers

In the same period, the US gas rig count experienced a minor rise, adding one rig to total 99. Year-over-year, this figure has decreased by six. The overall rig count in the US now stands at 587, showing a weekly increase of two but an annual decline of 26.

Canadian Rig Count Trends

Canada's rig count tells a different story, with a weekly decrease of six rigs, bringing the total to 128. Specifically, oil rigs in Canada fell by six to 81, while the number of gas rigs remained steady at 47 compared to the previous week.