Baker Hughes reported that for the week ending January 3, the US rig count decreased by six to 1,751, following 11-rig decrease the previous week. Additionally, the rig count is still down by 11 from 1,762 rigs during the same week a year ago. The oil rig count decreased by four to 1,378, whereas the gas rig count decreased by two to 372.

Meanwhile, the Canadian rig count increased by 19 in the week ending January 3 to reach 282, following a dramatic 135-rig plunge the week before. However, the Canadian rig count was still up 24 from 258 rigs during the same week a year ago.