According to the latest report from Baker Hughes, for the week ending March 23, the US rig count fell by 16 to 1,968 rigs but was still up 230 year-on-year. Oil rigs declined by four to 1,313 and are up 462 from the same week a year ago. The gas rig count dropped by 11 to 652, reflecting a 228-rig decrease year-over-year.
Canada's rig count plummeted by 165 to 352, following a 138-rig drop the previous week; the overall rig count is down 77 year-on-year.