Baker Hughes reported Friday that for the week ending May 3, the US rig count increased by 10 to 1,764, following a four-rig drop a week ago. The rig count was still down 201 rigs from the same week a year ago. During the week, the oil rig count surged by 22 to1 1,403 while the gas-directed rig count fell by another 12 to 354.
Canada's rig count fell by just one to 121, after declining by four a week ago, and double-digit drops in the previous three weeks. Canada's rig count is down 10 from 131 active drilling rigs in the same week last year.