Baker Hughes has reported that for the week ending February 20 the US rig count decreased by 48 to 1,310 after a 98-rig drop the previous week. The gas rig count decreased by 11 to 289, whereas the oil rig count decreased by 37 to 1,019. The overall rig count is down by 461 from 1,771 rigs during the same week a year ago.
Meanwhile, the Canadian rig count decreased by 22 in the week ending February 20 to reach 360 after a one-rig increase the week before. The Canadian rig count is down by 272 from 632 rigs during the same week a year ago.