Baker Hughes reports U.S. rig count down 34 to 374 rigs
Baker Hughes (BKR) reports that the U.S. rig count is down 34 rigs from last week to 374, with oil rigs down 33 to 292, gas rigs down 1 to 80, and miscellaneous rigs unchanged at 2.
The U.S. Rig Count is down 614 rigs from last year’s count of 988, with oil rigs down 513, gas rigs down 103, and miscellaneous rigs up 2 to 2.
The U.S. Offshore Rig Count is down 1 rig from last week to 15 and down 5 year-over-year.
The Canada Rig Count is down 1 rig from last week to 26, with oil rigs unchanged at 7 and gas rigs down 1 to 19.
The Canada Rig Count is down 37 rigs from last year’s count of 63, with oil rigs down 15 and gas rigs down 22.
Meanwhile WTI has traded in a wide range this year. Today the June contract is up 4.5% to $24.50 per barrel.
Brent crude for June delivery is up 4.8% to $30.85 per barrel.
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