The number of oil rigs in the United States reached 481 in the week ending April 17, rising by one from the previous week, according to the Baker Hughes weekly rig count released on Thursday. The rig count fell by 30 on an annual basis.

The country's gas rig count increased by one to 98 in the reported week, dropping by eight from the same period in the previous year. The total number of rigs in the US stood at 585, down by two from the previous week and by 34 from the same period in 2024.

In Canada, the total number of rigs declined by four on a weekly basis to stand at 134. The number of oil rigs in the country slipped by four to reach 87, while the number of gas rigs in Canada was unchanged from the week prior at 47.