Baker Hughes reported that for the week ending March 7, the US rig count increased by 23 to 1,792, following a two-rig decrease the previous week. The rig count is still up by 40 from 1,752 rigs during the same week a year ago. The oil rig count increased by 13 to 1,443, whereas the gas rig count increased by 10 to 345.
Meanwhile, the Canadian rig count decreased by 39 in the week ending March 7 to reach 587, following a six-rig decrease the week before. However, the Canadian rig count is still up seven from 580 rigs during the same week a year ago.