Rig Counts Rise!

Baker Hughes reports U.S. rig count up 6 to 261 rigs

Baker Hughes (BKR) reports that the U.S rig count is up 6 from last week to 261 with oil rigs up 4 to 183, gas rigs up 2 to 75, and miscellaneous rigs unchanged at 3.

The U.S. Rig Count is down 599 rigs from last year’s count of 860, with oil rigs down 530, gas rigs down 71, and miscellaneous rigs up 2.

The U.S. Offshore Rig Count is unchanged at 14 down 10 year-over-year. The Canada Rig Count is up 7 from last week to 71, with oil rigs up 3 to 33, gas rigs up 4 to 38.

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The Canada Rig Count is down 56 rigs from last year’s count of 127, with oil rigs down 55, gas rigs down 1.

Brent crude is down 15 cents to $41.81 per barrel. West Texas Intermediate (WTI) crude is down 14 cents to $40.16 per barrel.

Gasoline last traded at $1.21 per gallon down a penny.

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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