According to the latest report by Baker Hughes, for the week ending December 22, the US rig count fell by 11 to 2,008, up 294 rigs year-on-year. The drop was a result of a 16-rig drop in gas rigs, which fell to 802, and are down 129 year-on-year. Meanwhile, rigs drilling for oil increased by five last week to 1,201 and are up 430 year-on-year.
The Canadian rig count plummeted last week, dropping by 125 rigs to 406 in total. The Canadian rig count is up by 95 year-over-year.