Baker Hughes has reported that for the week ending February 27 the US rig count decreased by 43 to 1,267 after a 48-rig drop the previous week. The gas rig count decreased by 9 to 280, whereas the oil rig count decreased by 33 to 986. The overall rig count is down by 502 from 1,769 rigs during the same week a year ago.
Meanwhile, the Canadian rig count decreased by 30 in the week ending February 27 to reach 330 after a 22-rig decrease the week before. The Canadian rig count is down by 296 from 626 rigs during the same week a year ago.