Baker Hughes reported Friday that for the week ending November 2, the US rig count fell by 26 to 1,800, following a 13-rig decline the prior week. Year-on-year, the US rig count is down 226 rigs. Rigs drilling for oil decreased by 35 units to 1,373 rigs while gas-directed drilling rigs increased by eight to 424.
Once again, Canada's rig count increased, this time by 13 rigs to 383 rigs after rising by 15 a week ago. The rig count is down 93 on a year-on-year basis. Of the 383 rigs, 291 were drilling for oil and 92 were focused on gas drilling.