The number of oil rigs in the United States decreased by 33 to 292 in the week ending May 8 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday. The oil rig count stood at the lowest level since September 2009.
Meanwhile, the number of US gas rigs fell by 1 to 80 during the same week to bring the total number of rigs in the country to 374. Compared to the same period a year earlier, the number of oil rigs dropped by 513.
In Canada, the number of oil rigs was unchanged at 7, while the number of gas rigs decreased by 1 to 19, bringing the total rig count to 26. Year-on-year, the number of oil rigs in Canada fell by 15.