The number of oil rigs operating in the US rose this week, data from energy-services firm Baker Hughes (BHGE) showed on Friday, while crude prices fell on the day.
The tally, an indicator of future output, rose by three to 800, the Houston-based oil company said in a report. The gas count fell by two to 184.
The total for the US was 984, a gain of one in the week but down 76 year-on-year. It’s the lowest since early March 2018, the data showed. In the same period of last year, the US had 861 oil rigs in operation while 197 gas rigs were running. Two rigs a year ago were listed as miscellaneous.
West Texas Intermediate, the US crude benchmark, fell nearly 4% to $54.34 a barrel while Brent, the international standard, fell 3.5% to $64.53.
For North America, the rig count was up eight at 1,069, which compares with 1,159 in the same period of 2018.
Canada’s tally was up seven on a weekly basis at 85, down 14 year-on-year. The country’s oil count was 44, up six from last week and down 12 from the same period of 2018. Gas was at 41, up one from last week and two lower than 2018.
Among the states, New Mexico added two rigs while Louisiana gained one. Texas, the leading US producer, lost one rig, as did Ohio, Oklahoma and West Virginia.