Baker Hughes reported Friday that for the week ending January 18, the US rig count fell by 12 to 1,749 following one-rig drops in each of the past two weeks. On a year-on-year basis, the US rig count is down 259. Rigs drilling for oil fell by seven to 1,316 while gas-directed rigs fell by five to 429.
Canada's rig count was up 70 to 601 from last week when the rig count surged by 273. Nonetheless, Canada's rig count was still down 53 from the same week a year ago.