US rig count rises as Canada’s falls again
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According to the latest report from Baker Hughes, for the week ending May 11, the US rig count was up nine from the previous week to 1,974, and up 144 year-on-year. The oil rig count increased by 17 to 1,372 (up 425 year-on-year), more than offsetting an eight-rig drop in gas rig counts. Gas rigs fell to 598 in the last week and were down 276 year-on-year.
The Canadian rig count fell by 11 to 120 and was down seven year-on-year.