US adds 5 oil rigs

Press Releases | Business | Economy | Markets | Commodities 4/21/2017, 7:02 PM
US adds 5 oil rigs

The number of oil rigs in the United States increased by 5 to 688 in the week ending April 21 compared to last week, according to the Baker Hughes weekly rig count published on Friday.

The number of US gas rigs rose by 5 to 167, while the number of all rigs was up by 10 to 857 in the same week. On an annual basis, the number of oil rigs increased by 343.

In Canada, the number of oil rigs fell by 7 to 33 while the number of gas rigs decreased by 12 to 66 in the week ending April 21. The country’s total rig count declined by 19 rigs from last week to 99. On an annual basis, the number of oil rigs in Canada rose by 12.

Oil prices were down over 2% before the announcement.

TeleTrader Newsroom / NP

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