According to Friday's report from Baker Hughes, for the week ending July 20, the US rig count fell by 18 to 1,935, following a 12-rig drop a week ago and a six-rig decline the week prior. The gas rig count fell by four to 518, while rigs drilling for oil dropped by 13 to 1,414; the oil rig count was still up 38.5 percent from 1,021 a year earlier.
Meanwhile, the Canadian rig count increased by 32 in the last week to 328, reflecting a year-on-year decrease of 48 rigs. Canada's rig count also increased by 32 last week.