The number of oil rigs in the United States increased by 4 to 873 in the week ending October 19 compared to the previous week, according to the Baker Hughes weekly rig count released on Friday.
The number of gas rigs in the US rose by 1 to 194 during the same week, bringing the total number of rigs in the country to 1,067. On an annual basis, the oil rig count was up 137.
In Canada, the total rig count was down by 4 with the number of oil rigs decreasing by 4 to 123 and gas rigs remaining unchanged at 68. Compared to the previous year, the number of oil rigs in Canada was was down by 11.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.
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