Canadian rigs drop sharply

Drilling rig use fell in North America by 123 units this week to 2302, according to oil services firm Baker Hughes.

Canada led the driling drop with a loss 113 rigs, leaving 510 still drilling in the country. In the US, rigs were down by 10 to stand at 1792. The Gulf of Mexico lost one rig, leaving 59 still drilling. Texas lost three rigs to stand at 881 and Louisiana lost 12 rigs, leaving 143 still drilling.

Read More