U.S. Rig Count Doubles in One Year!

#Baker-Hughes $BHI reports that the U.S. rig count is up 7 rigs from last week to 877, with oil rigs up 6 to 703, gas rigs up 2 to 173, and oil_rigmiscellaneous rigs down 1 to 1.

The U.S. Rig Count is up 462 rigs from last year’s count of 415, with oil rigs up 375, gas rigs up 87, and miscellaneous rigs unchanged.

The U.S. Offshore Rig Count is up 2 rigs from last week to 19 and down 5 rigs year over year.

The Canadian Rig Count is down 3 rigs from last week to 82, with oil rigs up 3 to 27 and gas rigs down 6 to 55. The Canadian Rig Count is up 46 rigs from last year’s count of 36, with oil rigs up 16, gas rigs up 31, and miscellaneous rigs down 1 to 0.

#Crude oil $CL1 is up 78 cents to $46.30 per barrel after bottoming at $43.77 six-month lows overnight.

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