According to the latest report from Baker Hughes, for the week ending June 8, the US rig count increased by four to 1,984 and was up 129 year-on-year. Once again, gas rigs declined, falling 23 in the last week to 565, and reflecting a 314-rig drop compared to the same week a year ago. Rigs drilling for oil increased by 28 to 1,414 and were up 445 year-over-year.
The Canadian rig count surged 74 to 230, although rigs still fell two short of the comparable week last year.