According to the latest report by Baker Hughes, for the week ending December 16, the US rig count increased by 32 to 2,019, up 310 rigs year-on-year. Oil rigs led the charge with a 35-rig increase (totaling 1,196), up 440 year-on-year, while gas rigs dropped by two to 818, down 123 from year-ago levels.
Meanwhile, the Canadian rig count surged by 27 to 531, up 31 rigs year-on-year.