The number of oil rigs in the United States fell by four, on a weekly basis, to 461 in the week ending May 30, the Baker Hughes rig count data released on Friday revealed. Year over year, oil rigs slumped by 35.

The US gas rig count was up by one to 99 during the same week, while it declined by one compared to last year. The total number of rigs in the country currently stands at 563, declining by three from last week and tumbling by 37 from the previous year.

In Canada, the total rig count stood at 112, down by two from last week and by 16 compared to 12 months ago. The number of oil rigs decreased by two to 69 and the number of gas rigs was unchanged at 43. On an annual level, Canada lost five oil rigs and 11 gas rigs.