Weekly Oil Rig Count Update

The United States has witnessed a modest increase in its oil rig count, reaching 483 in the week ending April 25. This marks a rise of two rigs from the previous week, as reported by Baker Hughes. However, the count has seen a significant annual decrease of 23 rigs.

Gas Rig and Total Rig Counts

In the same period, the US gas rig count experienced a slight uptick, adding one rig to total 99. Despite this weekly increase, the gas rig count is down by six compared to last year. The overall rig count in the US now stands at 587, showing a minor weekly increase of two but a notable annual drop of 26.

Canadian Rig Count Overview

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, unchanged from the previous week.