According to Friday's report from Baker Hughes, for the week ending March 16, the US rig count increased by 11 to 1,984 rigs and was up 264 year-on-year. Oil rigs were up by 21 to 1,317, and increased by 478 year-over-year. The gas rig count fell by seven to 663 and is down 212 year-over-year.
Meanwhile, the Canadian rig count slumped by 138 to 517 rigs, reflecting a decrease of 69 from the same week a year ago.