Oil and Gas Rotary Rig Counts: The total number of operating rigs in Canada for the week ending October 25th was 150 oil and 66 gas (totaling 216). In percentage terms, on a month on month (m/m) basis, oil rigs were down 1.3% and gas up 1.5%. On a year on year (y/y) comparison, rigs were up 23.0% for oil and down 10.8% for gas. The combined figure for y/y was -10.8% or +20 rigs.

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending October 25th was 480 oil and 101 gas (totaling 581). In percentage terms, on a month on month (m/m) basis, oil rigs were down 0.8% and gas up 2.0%. On a year on year (y/y) comparison, rigs were down 4.8% for oil and down 13.7% for gas. The combined figure for y/y was -6.4%, or -40 rigs.

Oil and Gas Rotary Rig Counts: The total number of operating rigs in Canada for the week ending September 27th was 152 oil and 65 gas (totaling 217). In percentage terms, on a month on month (m/m) basis, oil rigs were down 0.7% and gas down 3.0%. On a year on year (y/y) comparison, rigs were up 32.2% for oil and down 14.5% for gas. The combined figure for y/y was +14.1% or +27 rigs.

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending September 27th was 484 oil and 99 gas (totaling 583). In percentage terms, on a month on month (m/m) basis, oil rigs were up 0.2% and gas up 4.2%. On a year on year (y/y) comparison, rigs were down 3.6% for oil and down 14.7% for gas. The combined figure for y/y was -5.8%, or -36 rigs.

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in August 2024 was flat (m/m) to $289.7, following the 9.9% increase in July. The always-volatile nondefense aircraft orders, down 31.0% y/y, influenced this trend significantly.

Producer Price Index: The U.S. Bureau of Labor Statistics’ Producer Price Index (PPI) for final demand increased 0.2% in August 2024 (seasonally adjusted), after remaining flat in July. The index for final demand goods remained unchanged in August, while the index for final demand services rose 0.4% in August. A 4.8-percent rise in the index for guestroom rental was a major factor in the August advance in prices for final demand services.