Baker Hughes has reported that for the week ending May 22 the US rig count decreased by three to 885, after a six-rig drop the previous week. The gas rig count decreased by one to 222, whereas the oil rig count also decreased by one to 659. The overall rig count is down by 972 from 1,857 rigs during the same week a year ago.
Meanwhile, the Canadian rig count increased by five in the week ending May 22 to 72, after a two-rig drop the week before. The Canadian rig count is down by 82 from 154 rigs during the same week a year ago.