Baker Hughes reported that for the week ending February 28, the US rig count decreased by two to 1,769, following a seven-rig increase the previous week. The rig count is still up by 12 from 1,757 rigs during the same week a year ago. The oil rig count increased by five to 1,430, whereas the gas rig count decreased by seven to 335.
Meanwhile, the Canadian rig count decreased by six in the week ending February 28 to reach 626, following an eight-rig increase the week before. However, the Canadian rig count is still down 29 from 655 rigs during the same week a year ago.