The North American weekly rig count fell again this week, losing 14 rigs to end the week at 457, according to the latest report from Baker Hughes Inc. (NYSE: BHI).
In the U.S., the rig count fell by 11 to 420 with fewer oil rigs pumping. The oil rig count dropped by 11 to 332 this week, compared to last week.
According to Reuters, the count released April 29 shows U.S. energy firms have cut oil rigs for the sixth straight week to the lowest level since November 2009.
The Gulf of Mexico lost one rig this week, bringing its count to 24.
Meanwhile, the Canadian count dropped by three to 37 this week, compared to last week.
Rig counts were also down overall from the prior year. About this time last year the U.S. had 905 rigs, compared to this week’s 420, Baker Hughes said in the report.
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