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

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

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Baker Hughes has reported that for the week ending January 22, the US rotary rig count increased by five to 378 rigs. The number of rigs drilling for gas increased by three to 88, while the number of rigs drilling for oil increased by two to 289. The overall rig count is now down by 416 rigs in a year-on-year comparison.

Meanwhile, the Canadian rig count increased by 11 to 172 rigs in the week ending January 22. The Canadian rig count is now down by 72 rigs compared to the same week a year ago.

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