According to the latest report by Baker Hughes, for the week ending December 2, the US rig count fell by seven to 1,993, reflecting the first time US rig counts have fallen below the 2,000 mark since late September. Year-on-year, the US rig count was up 280 from the same time last year.
Gas rigs led the decline in overall US rig counts, falling by nine in the last week to 856 rigs. Gas rigs are down 105 from last year. Rigs drilling for oil increased by two last week to 1,132 and are up by 390 year-on-year.
The rig count in Canada was unchanged from a week ago, remaining at 484, and up 35 from the same week a year ago.