Baker Hughes reported that for the week ending May 2, the US rig count decreased by seven to 1,854, following a 30-rig increase the week before. The rig count is still up by 90 from 1,764 rigs during the same week a year ago. The oil rig count decreased by seven to 1,527, whereas the gas rig count remained level at 323.
Meanwhile, the Canadian rig count decreased by five in the week ending May 2 to reach 163, following a 31-rig decrease the previous week.However, the Canadian rig count is still up 42 from 121 rigs during the same week a year ago.