US and Canadian rig counts drop again week-on-week

US and Canadian rig counts drop again week-on-week

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Baker Hughes has reported that for the week ending June 26, the US rotary rig count decreased by one to 265 rigs following a 13-rig decrease the week before. The number of rigs drilling for gas remained stable at 75, while the number of rigs drilling for oil decreased by one to 188. The overall rig count is now down by 702 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count decreased by four to 13 rigs in the week ending June 26, following a four-rig decrease the week before. The Canadian rig count is now down by 111 rigs compared to the same week a year ago.

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