Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 4 to 193—a gain that may push prices down further. The total number of active oil and gas rigs increased for the week by 3, with oil rigs rising by 4 and gas rigs dipping by 1. Total oil and gas rigs in the United States are now down by 587 compared to this time last year. The EIA’s estimate for oil production in the United States rose during the week ending October 2—the last week for which there is data, to 11.0 million barrels of oil per day. U.S. oil production is still down 2.1 million bpd from its all-time high reached earlier this year. Canada’s overall rig count rose by 5 this week. Oil and gas rigs in Canada are now at 80 active rigs, and down 66 year on […]