Canada Drags Baker Hughes North American Rig Count

The U.S. flag is displayed at Tesoro’s Los Angeles oil refinery in Los Angeles, California. (Photo: Reuters)

The Baker Hughes North American Rig Count fell 9 points as declines in Canada outweighed slight but continued gaines in the United States (US). The Canadian count decline by 12 for the week and is now down 35 rigs since last year.

Rigs classified as drilling for oil fell by 9 and gas fell by 3.

The U.S. rig count is up 3 for the week and is still 224 rigs higher than this point last year.

Rigs classified as drilling for oil increased by 1 and gas by 2.