The number of oil rigs in the United States was unchanged at 486 in the week ending March 7, compared to the previous week, according to the Baker Hughes weekly rig count released on Friday. On an annual basis, the number of oil rigs dropped by 18.

The US gas rig count fell by one to 101 during the same week, while it fell by 14 compared to last year. The total number of rigs in the country currently stands at 592, down by one from last week but tumbling by 30 from the previous year.

In Canada, the number of rigs fell by 14 to 234 on a weekly basis. The number of oil rigs in Canada declined by seven to 170, and the number of gas rigs decreased by seven to 64. Canada's oil rig count was down by 29 from the same period in 2024.