According to the latest report by Baker Hughes, for the week ending January 13, the Canadian rig count increased by 250 to 611 rigs and was up 34 year-on-year.
The US rig count was more pessimistic in the week ending January 13, falling by 20 to 1,987 rigs but remained up 287 year-on-year. Oil rigs remained steady last week at 1,191 and were up 402 rigs from the same week a year ago, while gas rigs decreased by 20 to 791, and were down 111 rigs year-on-year.