The Baker Hughes rig count has posted a week of decline.
US rigs were down two from last week to 506, with oil rigs up two to 416, gas rigs down three to 89, and miscellaneous rigs down one to one.
However, year-on-year the US rig count is down 336 rigs from last year’s 842, with oil rigs down 228, gas rigs down 109, and miscellaneous rigs up one.
The US offshore rig count is 20, up two rigs from last week, and down 11 rigs year-on-year.
Canada’s rig count continued to fall to 132 – two down from last week and 50 down from last year.
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