Baker Hughes reported that for the week ending January 10, the US rig count increased by three to 1,754, following six-rig decrease the previous week. However, the rig count is still down by seven from 1,762 rigs during the same week a year ago. The oil rig count increased by 15 to 1,393, whereas the gas rig count decreased by 15 to 357.
Meanwhile, the Canadian rig count increased by a staggering 195 in the week ending January 10 to reach 477, following a 19-rig increase the week before. However, the Canadian rig count is still down 54 from 531 rigs during the same week a year ago.