Baker Hughes reported on Friday that the number of oil rigs in the United States fell by 5 to 231, ending eight weeks of increases to oil rigs in the U.S. The total number of active oil and gas rigs decreased for the week by 2, with oil rigs decreasing by 5 and gas rigs rising by 3. Total oil and gas rigs in the United States are now down by 493 compared to this time last year. The EIA’s estimate for oil production in the United States held fast in the week ending November 13—at 10.9 million barrels of oil per day in the most recent reporting period, with U.S. production still rangebound under 11.1 million barrels per day. Canada’s overall rig count rose by 12 this week. Oil and gas rigs in Canada are now at 101 active rigs, and down 36 year on year. Check back […]